Good news coming to the digital currency space as one of the countries in the Asia region have just approved bitcoin and cryptocurrency for salary payments. It was first rejected in 2023 and now approved by the First court of instance.
Dubai's Court of First Instance recognized cryptocurrency as a valid form of salary payment, marking a significant shift in the UAE's approach to digital currencies. This decision is a notable update from the court's previous stance in 2023, where a similar case was rejected due to issues with valuing crypto payments.
This move will have a positive impact in the mass adoption and use of bitcoin. For a country as big and popular like Dubai to make this move, we wait to see similar from neighboring countries or tourist destinations like Dubai.
https://www.cryptotimes.io/2024/08/16/dubai-court-approves-cryptocurrency-for-salary-payments/We are gradually getting to the point where P2P will become a common acceptable payment system using Bitcoin as the default currency. To think we couldn't achieve this feat a few years ago and look at where we are now.
Dubai is known to be a home for tourists from every part of the world, it is almost impossible not to transact when in Dubai as there are loads of tourist attractions you would want to experience and then you hear something like "We accept Bitcoin here", I love the sound of that.
Welcome to true Decentralization guys!