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.
I never thought about it, but I do see in threads and news alike that UAE makes better and better conditions for crypto as we are going forward with some countries like El Salvador.
I do not think that Europe will go to such extents with crypto, simply put because they have a different approach: they regulate everything with frameworks, which usually goes with lots of oversight and additional rules intact, which won't make the situation better
