Good to know that few countries have started easing the taxation on crypto.
Just like many other countries, India has also imposed 30% tax on crypto profits and along with that 1% TDS on every crypto transaction.
This has been killing our profits but it's good to hear that UAE has become more crypto friendly now.
May be this will create a butterfly effect and some day India decreases the tax rate on crypto profits too.
Yours might be better compared to what is happening here in our own country. They don't only tax us but also restricting us from accessing some crypto related platforms. I thought things like this only happen in Africa and third world countries. I have no problem paying them tax despite they're not putting it to good use but what is the essence of paying tax and can not still have freedom to visit any crypto platform of my choice? It doesn't make any sense seriously. UAE is setting a legacy that other countries can emulate to create a more friendly relationship between crypto enthusiasts and the government but I don't think such policies would work out here in Africa since they are more concern about their pockets than building a relationship.