Quote from: SquirrelJulietGarden on Today at 07:04:11 AM

Quote from: SatoPrincess on Today at 06:54:57 AM

The UAE just got a whole lot friendlier with its new no tax policy on crypto. Like El Salvador, the UAE may just become the next haven for crypto enthusiasts. Most countries in Europe tax over 30% of your profits. Do you think the UK and other countries in Europe will make such a move in the near future?

It's a big policy change in UAE but you did missed a fact that UAE in particular and Middle East in general, are hub of cryptocurrency founders, developers, enthusiasts for many years, not in 2024 or only after this policy change.

Furthermore, how El Salvador is competitive enough with UAE in their national policies and necessary infrastructures for cryptocurrency adoption? I doubt that El Salvador is ahead of UAE, only except Legal Tender. But between making Bitcoin legal tender and achieving nation-wide adoption and actual use of Bitcoin in their citizens is very big challenge to succeed.

It actually a nice move made by the UAE. We just hope it last long as the government sometimes do not stick to the promise or we don't really know their motive behind the removal. Well UAE is one of the most visited country by millionaires and lots of traders and I guess it's a way to attract even more investors into the country. Many other countries might not want to remove the taxes like the European countries that was mentioned by op. They have alot of reason with the taxes as they want to control the flow of money generated from crypto into the economy.