The UAE just made a massive move by removing Value Added Tax (VAT) on all crypto transactions! đž This positions the nation as a global leader in crypto adoption. Here are the key highlights of this game-changing update:â Retroactive VAT Exemption Applies to all crypto transactions since Jan 1, 2018, allowing businesses to adjust filings and recover previously paid VAT.â Dual Registration for VASPs Enhanced compliance with dual registration under SCA and VARA in Dubai, boosting transparency.â Crypto Ad Disclaimers â ïžNew rules require disclaimers on crypto ads, highlighting investment risks to protect investors from volatility.This is a killer move by the UAE! đ„ Not only will it solidify the country as a global crypto and financial hub, but itâs a win for businesses of all sizes:đ° Cost Savings: Reduced tax burdens for virtual assetsđĄ Retroactive Relief: Recover VAT since 2018đ Crypto-Friendly Climate: Making it easier for crypto companies to operate in a compliant wayWith these updates, the UAE is set to attract more investments and innovation in the crypto space. đP.S. Is the UAE becoming the ultimate crypto haven? đ#CryptoNews #UAE #CryptoAdoption #VAT