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?
No wonder a lot of crypto gurus are running to thag region even before this news, they are having tax capital gain free on crypto even before now in Dubai but it's seems the regulation has been finally approve all over the city of UAE. Finally, they are going to have a lot of crypto immigrants move their family and friends over there to stop been drained of their profits by this European countries that dwell on citizens crypto investments.
I'm not sure the like of UK are going to allow crypto tax to be free, they wouldn't because I think they are already suffering from high rate of immigrants migration, doing that in UK will double the numbers of foreigners coming to their country. My only fear for the UAE now is that scammers don't use this opportunity to abuse the privilege so they don't take away it from people again, every advantage comes with its own disadvantages.