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SCER Proposes Bitcoin Adoption in Post-War Syria to Attract Global Investment

The Syrian Center for Economic Research (SCER) has presented a proposal for the transitional government to legalize Bitcoin and digitize the Syrian pound in a bold strategy to address the country’s economic crisis. This proposal aims to build a strong digital economy and develop both centralized and decentralized banking infrastructures across the country. SCER’s Vision for Syria If implemented, the initiative would mark a crucial shift in Syria’s monetary policy, aiming to curb inflation, stabilize the local currency, and attract foreign investment in a war-torn economy struggling with hyperinflation and currency devaluation. The proposal details a regulatory framework that would legalize the exchange, trading, and mining of Bitcoin and other digital assets in compliance with both domestic and international standards. Central to the plan is the digitization of the Syrian pound, which would involve minting it on a blockchain backed by liquid assets such as gold and other reserves. This will be done with the oversight of the central bank and relevant regulatory authorities. Such a move could potentially improve the security and transparency of transactions, facilitate cross-border remittances, and spur e-commerce growth. In addition to addressing monetary challenges, the initiative seeks to empower Syrian entrepreneurs and innovators by granting them access to a free-market environment unrestricted by monopolistic practices. The focus will also be on fostering private property rights and enabling citizens to exercise full self-custody of their digital assets. Meanwhile, the initiative also seeks to modernize financial institutions and encourage startups to deliver Bitcoin and blockchain-related services. Despite its promise, the proposal stated that it faces significant hurdles, including a lack of technological infrastructure, limited public awareness, and geopolitical challenges that have long hindered Syria’s recovery. The SCER also clarified that the transitional government has neither approved nor considered this proposal. The volunteer-driven initiative said that they “do not expect them to do so anytime soon” and added that the transitional government has more “pressing issues to address at this time.” It went on to say, “We also emphasise that this is NOT meant to circumvent international sanctions. We believe that sanctions should be lifted URGENTLY through legal and political processes in accordance with international law.” Growing Calls for Lifting Sanctions The latest development comes amidst Syria’s new Foreign Minister, Asaad Hassan al-Shibani, who is calling for an urgent lifting of international sanctions. Speaking just weeks after the ousting of Bashar al-Assad, al-Shibani outlined the interim administration’s goals and progress while simultaneously highlighting efforts to stabilize the country and engage with regional and global stakeholders. Al-Shibani argued that sanctions, originally imposed by Western nations to pressure the Assad regime during its brutal repression of protests in 2011, have outlived their purpose. With the regime dismantled and thousands of political detainees freed, he urged the international community to reconsider the measures, stating that they now hinder Syria’s recovery and harm ordinary citizens. The post SCER Proposes Bitcoin Adoption in Post-War Syria to Attract Global Investment appeared first on CryptoPotato . BitcoinSistemi

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FLOKI DAO Unanimously Votes to Provide Liquidity for Floki ETP Launch

Miami, Florida, December 31st, 2024, Chainwire The Floki DAO has voted decisively in favor of allocating liquidity to facilitate the creation of a Floki Exchange-Traded Product (ETP). The proposal passed on Dec. 27 without a single opposing vote – a first for the Floki DAO – highlighting the community’s overwhelming support for expanding Floki’s presence in traditional financial markets. The vote will see a portion of 16,310,285,772.6 FLOKI tokens from the community buyback wallet redirected to provide liquidity for the ETP, while the remaining tokens will be permanently burned. The Floki ETP is set to go live on the SIX Swiss Exchange in the first quarter of 2025. “With the Floki DAO voting overwhelmingly in favor of the proposal to provide liquidity for the Floki ETP, Floki is on track to become the only memecoin besides Dogecoin with an ETP on a regulated stock exchange as early as January 2025. The Floki ETP will be going live on the SIX Swiss Exchange, which is the largest stock exchange in Switzerland and the third largest stock exchange in Europe, in what is an almost unprecedented move for memecoin legitimacy,” B a Core Advisor at Floki said. The creation of the Floki ETP is being driven by a leading asset manager in collaboration with an ETP Issuer, reinforcing Floki’s growing integration into the traditional finance (TradFi) ecosystem. By establishing the ETP, Floki aims to bridge the gap between crypto and traditional markets, providing institutional and retail investors with a secure, regulated avenue to access, buy, and hold FLOKI through familiar trading platforms. An exchange-traded product (ETP) functions similarly to an exchange-traded fund (ETF) but with structural differences. Both products allow investors to gain exposure to underlying assets without directly holding them. This announcement follows the recent recognition of Floki by the U.S. Commodity Futures Trading Commission (CFTC) as a utility token during the Global Markets Advisory Committee (GMAC) meeting on November 21. Floki was highlighted alongside Ethereum (ETH) and Avalanche (AVAX) as part of ongoing regulatory discussions surrounding digital assets. A key factor in the CFTC’s acknowledgment was Valhalla, Floki’s NFT-based metaverse game slated for launch in early 2025. Valhalla’s use of FLOKI as its in-game currency played a pivotal role in reinforcing the token’s real-world utility and further establishing Floki’s legitimacy within the broader digital asset landscape. Floki continues to innovate and work hard towards pushing adoption of its ecosystem in line with its mission to be the world’s most known and most used cryptocurrency! About Floki Floki is the people’s cryptocurrency and utility token of the Floki Ecosystem. Focused on utility, community, philanthropy, and strategic marketing, Floki is working toward becoming the world’s most recognized and used cryptocurrency. With over 490,000 holders globally, Floki has already established a strong brand presence. Users can learn more at floki.com . YouTube | Telegram | Instagram | TikTok | Discord | Facebook | Reddit | Twitch | Valhalla Contact Community Relations Officer Pedro Vidal Floki marketing@floki.com BitcoinSistemi