Shiba Inu's Shytoshi Kusama Calls This Nation 'Crypto Capital' After It Makes Digital Asset Transactions Tax Free
Portfolio Pulse from Aniket Verma
The UAE has exempted cryptocurrency transactions from VAT, earning praise from Shiba Inu's lead developer, Shytoshi Kusama, who called the UAE the 'cryptocurrency capital'. This move is part of the UAE's efforts to become a crypto-friendly destination, following regulatory approvals for Binance and Ripple Labs.
October 07, 2024 | 2:41 am
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POSITIVE IMPACT
Binance, having secured a full regulatory license in Dubai, stands to benefit from the UAE's VAT exemption on crypto transactions, potentially increasing its customer base and service offerings.
The VAT exemption on crypto transactions in the UAE aligns with Binance's recent regulatory license in Dubai, likely boosting its operations and customer reach in the region.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Shiba Inu's lead developer praised the UAE's VAT exemption on crypto, which could positively influence SHIB's perception and adoption in the region.
The positive sentiment from Shiba Inu's lead developer towards the UAE's crypto-friendly policies may enhance SHIB's attractiveness and adoption in the region.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Ripple Labs, with in-principle approval for blockchain payment services in Dubai, may benefit from the UAE's VAT exemption, potentially enhancing its market presence and service adoption.
Ripple Labs' recent approval in Dubai, combined with the VAT exemption, positions it well to expand its blockchain payment services in the UAE.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70