Post
Topic
Board Bitcoin Discussion
Re: Denmark consider taxing unrealized gain on bitcoin.
by
pooya87
on 26/10/2024, 07:36:59 UTC
If a country like the UAE has opted to not tax Bitcoin and other crypto currencies because it wants to be one of the largest investors in cryptocurrency, thereby boosting its economy and improving the standard of living by owning mining farms as well, am sure other countries can do same if they know the advantages of allowing crypto currency and Bitcoin in particular to be a main stay financial component of its economy.
It is a bad comparison because UAE is not exactly a country. It is more like a gas station. It is an artificial colony created about 50 years ago (so the tree in my backyard is older) so that the West has control over some gas and oil fields.

Unlike Denmark the UAE regime's budget doesn't really rely on taxes. It relies on the fossil fuel they cheaply extract out of the earth and sell. Which is why they can afford to not-tax bitcoin related stuff.
Also unlike Denmark, UAE is a dictatorship so the quality of life of the small ~1-2 mil population of it does not matter (note that the rest of the 8-9 mil are foreign workers that are only there to work and send the money back home).