Quote from: Strongkored on October 09, 2024, 04:39:40 AM

I doubt the UK and other European countries will do the same as the UAE, a country that has had high taxes on many things from the start will do the same on other things including crypto transactions, only countries that have never implemented taxes or low are also likely to exempt crypto from taxes or only apply low taxes on crypto transactions.

The UAE has quite low taxes, some are even tax-free, so it's no surprise that they also do this for crypto, crypto lovers in this country are certainly happy with their government's decision.

This is a great news for the UAE, I think this will open way for people to come their country and since their is a way one can become citizens by investment, they will make millions of money from people because an average crypto investor doesn't like to pay tax, many United state citizens that invest in crypto feel they are been extorted by their govern after making their hard risk, they will rather pay the one time payment to become citizens than continue to pay 30% to their government everytime.

UK leave on tax and it's the system is sustained by the tax system, the queen has never relax on taxing system and I'm not sure if the prince will do the same. The United Kingdom is survive on taxes and in return people enjoy the good system. It will be difficult for them to see the massive profits people make from crypto and they are going to close eye on it. Maybe if they chargea the exchanges we'll enough they might reduce the % they collected from their citizens that invest in crypto.