Syria Compliance Report

Regulatory Overview

Regulatory Status

Regulators have not addressed crypto; legal status ambiguous

Travel Rule

Not adopted

Tax Reporting

**2018 Decree:** The CBS initially issued Circular No. 2/M.J.D. of 2018 (though exact English references and stable URLs are hard to find, this is widely reported) prohibiting dealing in cryptocurrencies.. **Subsequent Reaffirmations:** The ban has been reaffirmed multiple times, with the CBS warning citizens against dealing in virtual currencies due to their perceived risks to financial stability, lack of regulatory oversight, and potential for money laundering and terrorist financing. The Syrian authorities view cryptocurrencies as a threat to the national currency and economy.. **No specific framework:** Given the outright ban on cryptocurrency, there is **no specific capital gains tax framework** for virtual assets in Syria.. **Illegal activity:** Any profits made from crypto trading would arise from an illegal activity and would not be subject to a legal tax regime. Instead, individuals caught dealing in crypto could face criminal charges and confiscation of assets.. **No specific framework:** Similarly, there is **no specific income tax regime** for earnings derived from cryptocurrency activities (e.g., mining, staking, or income from crypto-related services).

Key Facts

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