In a significant policy shift, the United Arab Emirates (UAE) has decided to exempt cryptocurrency transactions from its 5% value-added tax (VAT). Officially announced on October 4, this amendment to the Federal Decree Law on VAT is poised to take effect on November 15, 2024, while retrospectively benefiting transactions dating back to January 1, 2018.
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In the turbulent waters of financial markets, few figures shine as brightly as Aayush Jindal. With a career that spans over 15 transformative years, Jindal is a distinguished expert in Forex and cryptocurrency trading. His impressive resume showcases his remarkable ability to navigate through complexities within finance, offering invaluable insights to a global audience of
South Korea’s Financial Services Commission (FSC) is taking significant steps toward scrutinizing Upbit, the preeminent cryptocurrency exchange in the nation. The inquiry is prompted by growing concerns over Upbit’s influence within the crypto market and its potential risks to the financial system. FSC Chairman Kim Byung-hwan has indicated that this investigation will focus on the
On October 10, 2023, the Financial Services Commission (FSC) of South Korea made a significant announcement that is poised to reshape the regulatory landscape for cryptocurrencies in the nation. The establishment of a Virtual Asset Committee marks a pivotal moment in how South Korea attempts to govern and guide the burgeoning digital asset market. Tasked
In a significant initiative geared towards digital financial innovation, Taiwan’s Financial Supervisory Commission (FSC) has unveiled plans for a pilot program dedicated to digital asset custody services. Announced on October 8, this program will allow financial institutions to apply for the capacity to safeguard digital assets, including cryptocurrencies, for their clientele. This is a crucial
The landscape of cryptocurrency regulation in the United States has become increasingly contentious, and the recent lawsuit filed by Crypto.com against the U.S. Securities and Exchange Commission (SEC) highlights the severity of the discord. This legal action sheds light on critical issues surrounding regulatory authority, compliance, and the future of cryptocurrency in the country. On
Stablecoins have emerged as a powerful force in the global financial landscape, especially as mechanisms for cross-border transactions. Unlike traditional cryptocurrencies that experience wild price fluctuations, stablecoins maintain a stable value by pegging to fiat currencies like the US dollar. This attribute makes them attractive for international trade, facilitating transactions in a manner that bypasses
In a compelling address at the Bundesbank Symposium on the Future of Payments, Piero Cipollone, an influential member of the European Central Bank’s Executive Board, spotlighted the crucial role digital assets and distributed ledger technology (DLT) can play in the future of Europe’s capital markets. His remarks came at an opportune moment when the conversation
In light of the growing interest in cryptocurrencies and decentralized finance, investment firms such as 21Shares are urging the European Securities and Markets Authority (ESMA) to take actionable steps towards establishing cohesive regulations for crypto assets within Undertakings for Collective Investment in Transferable Securities (UCITS) funds. The firm’s recent statement highlights a stark inconsistency across
Opeyemi’s foray into the world of cryptocurrency might not have been a conscious choice initially; however, his two-year journey in this vibrant and rapidly evolving domain has shaped him into a proficient writer and an ardent enthusiast of digital assets. His narrative isn’t merely about dabbling in cryptocurrency but reflects a deep attraction that has