Quote from: zasad@ on Today at 09:28:39 AM

Quote from: UmerIdrees on February 22, 2024, 03:00:50 AM

..

This will go on forever.
P2P exchangers carry great risks for their clients.
The very first thing to avoid is P2P exchanges on exchanges if cryptocurrency transactions are illegal in your country or you do not file documents with the tax authorities.
The exchange itself will transfer all data about your exchanges to the tax office.

The owner of the P2P exchange can be caught, and he will transfer all data about the exchanges to the tax authorities or other organizations that are engaged in financial monitoring.
In the UAE, you can exchange cryptocurrency for cash without any problems.

There is a difference between UAE and other countries where the crypto is illegal. Dubai is one of the crypto hubs and you can buy and sell cryptocurrency with ease and you do not need to depend only on the P2P online platforms.

United Arab Emirates and Cryptocurrency

In those countries, where crypto transactions are not legal, people use the P2P exchanges to buy and sell crypto as in this way, the government does not know that they are dealing with crypto. That's the only option for those people and if you say that they should stop the P2P exchanges, then it means that they should quit crypto and wait for their country's conditions to become favourable for their crypto adoption.