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Crypto Companies Are on Their Way to Dubai, Find Out Why -Breaking

by Mike Robinson

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Crypto companies are on their way to Dubai. Find out why
  • Dubai will soon be the crypto capital.
  • Dubai hosts many cryptocurrency companies.
  • UAE has set crypto goals for the next three-years.

As the blockchain industry becomes more of a necessity in users’ lives, Dubai has taken its steps toward blockchain and crypto adoption. Dubai began opening its doors to cryptocurrency companies in 2022. They also offer unbeatable deals.

Dubai was the first to set regulations and laws in 2022 that allowed many cryptocurrency companies, such as Binance and FTX, Bybit and others, to open office locations in Dubai.

Dubai does not have a personal income tax. This means that no income taxes are due to residents of Dubai, regardless how much income they make. Dubai, however has low crypto taxes as one of many regulations that allow modern investment to flourish.

Many great events have been hosted in Dubai including the IFX Expo Dubai and AIBC. Dubai also allows crypto companies to open up within the DMCC-free zone.

Dubai’s public sector embraces Web 3.0. At the end March 2022, Dubai police began releasing an NFT-collection.

Metaverse, which is also located in Dubai has been announced by large corporations such as DAMAC Properties to have lands there.

Other countries, however, have created regulations that make it nearly impossible for cryptocurrency investors to operate. The latest Indian crypto law, which requires a 30% tax for crypto transactions is an example. These laws compelled companies to shift their operations elsewhere.

Another example is the comment of a Pakistani State Bank governor on the crypto industry, in which he said “crypto has no good use.” Other countries made it even harder on companies to invest, while Dubai has opened its arms wide for such investments. This isn’t a random decision, but it is a smart one.

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