Bill Proposal:

Bitcoin Policy in Syria

The Syrian situation after the fall of the previous regime necessitates seeking innovative solutions to accelerate reconstruction, ensure market freedom, protect the Syrian citizen from inflation and currency devaluation, enhance the preservation of private property, and add a modern framework to the economic climate to attract global capital.

From this perspective, we propose building a digital economy and a centralized and decentralized banking infrastructure with branches extending across various Syrian governorates, cities, and villages, opening the door to facilitate e-commerce and remittances, relying on the Bitcoin network and its technologies, as well as other digital asset networks.

This can be achieved by:

Issuing a comprehensive regulatory framework to legalize the exchange, trading, and mining of Bitcoin and digital assets in line with international and local laws.
Digitizing the Syrian pound, minting it on the blockchain, and backing it with liquid hard assets such as dollars, gold, and Bitcoin, under the management of the central bank and the supervision of responsible authorities.
Allowing entrepreneurs to use the country’s energy resources to mine Bitcoin and digital assets, with governmental facilitation granting them the freedom to innovate and expand while restricting monopolies and any adverse societal and environmental externalities.
Avoiding inflationary monetary policies and excessive reliance on usurious loans while adopting the principles of conservative free-market economics.
Ensuring the Syrian citizen’s right to full self-custody of their digital assets and their use in a manner that guarantees privacy and complies with international and local laws.
Permitting institutions, banks, currency exchange offices, and startups to provide financial services that simplify dealing with Bitcoin and digital assets with full regulatory clarity.

There are many obstacles between us and achieving this vision, including external sanctions, technical difficulties, and the debts left by the previous regime. However, the Syrian people have proven their ability to effect peaceful change, and by doing so, they will begin adopting this modern technology to keep pace with global economic transformation.

Educational Resources in Arabic:

Bitcoin2.io
BitcoinArabic.com
Satoshisat.com
Safedean.com/Arabic

The Syrian Center for Economic Research
Telegram.me/SyrianCER