UAECrypto
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M2 Exchange, A UAE based crypto exchange, quickly recovered from a $13.7 million breach within 16 minutes on Oct. 31, restoring customer funds and resuming normal service with enhanced security measures.
The incident highlights rising vulnerabilities in crypto exchanges.
#cryptoexchange #UAE #UAECrypto
The incident highlights rising vulnerabilities in crypto exchanges.
#cryptoexchange #UAE #UAECrypto
Tether is Launching AEDT, A Stablecoin for the UAE Dirham
In a recent announcement, Tether, the company behind the popular USD-pegged stablecoin USDT, revealed plans to launch a new stablecoin called AEDT, pegged to the United Arab Emirates (UAE) dirham. This move is aimed at meeting the rising demand for UAE currency and providing an alternative to the U.S. dollar in the Gulf region.
Why a Dirham-Pegged Stablecoin?
Tether CEO Paolo Ardoino explained that AEDT is intended to offer an alternative to the dollar, especially as global trade starts to shift. He noted that many people outside the UAE are interested in holding dirhams due to the stability of the UAE economy. Currently, the dirham is pegged to the U.S. dollar, but there is growing interest in the dirham as a reliable currency.
AEDT for Trades
The AEDT stablecoin aims to simplify international trade and remittances, cut down transaction fees, and help protect users from currency fluctuations. This new offering could further strengthen the UAE’s position in the crypto world and attract more international users to the dirham.
are you excited about this. tell your thoughts in comments. like and follow for more information.
Why a Dirham-Pegged Stablecoin?
Tether CEO Paolo Ardoino explained that AEDT is intended to offer an alternative to the dollar, especially as global trade starts to shift. He noted that many people outside the UAE are interested in holding dirhams due to the stability of the UAE economy. Currently, the dirham is pegged to the U.S. dollar, but there is growing interest in the dirham as a reliable currency.
AEDT for Trades
The AEDT stablecoin aims to simplify international trade and remittances, cut down transaction fees, and help protect users from currency fluctuations. This new offering could further strengthen the UAE’s position in the crypto world and attract more international users to the dirham.
are you excited about this. tell your thoughts in comments. like and follow for more information.
🚨🚨🚨UAE Ranks 3rd Globally in Crypto Adoption! 🚨🚨🚨
Click here for Vote and get 5 USDT
🌍 The UAE is making waves on the global crypto stage, securing its spot as a top destination for digital currency adoption! According to a comprehensive study by Henley and Partners, the UAE has been ranked third worldwide in crypto adoption, surpassing major economies like the US, UK, and Australia. Here’s why the Emirates is emerging as a global crypto powerhouse:
🔹 Widespread Crypto Usage Across Sectors:
- The UAE is rapidly integrating digital currencies across various sectors, including retail, real estate, and beyond.
- 🚀 Public interest in cryptocurrencies is soaring, with a significant portion of UAE residents now owning digital assets, solidifying the nation’s influential position on the global crypto stage.
🔹 A Crypto-Friendly Regulatory Environment:
- Low taxes and progressive regulations make the UAE an attractive destination for crypto businesses and investors alike.
- The combination of a highly digitalized and wealthy population, along with strong government support and a thriving startup ecosystem, creates the perfect environment for the continued growth of the crypto sector.
🔥 Don’t Miss Out on the UAE’s Crypto Revolution! Stay ahead of the curve by staying informed and engaging with the crypto community. The UAE is fast becoming one of the world’s most crypto-friendly nations, and the opportunities are endless.
#DOGSONBINANCE #TON #UAECrypto #Blockchain $BTC
Click here for Vote and get 5 USDT
🌍 The UAE is making waves on the global crypto stage, securing its spot as a top destination for digital currency adoption! According to a comprehensive study by Henley and Partners, the UAE has been ranked third worldwide in crypto adoption, surpassing major economies like the US, UK, and Australia. Here’s why the Emirates is emerging as a global crypto powerhouse:
🔹 Widespread Crypto Usage Across Sectors:
- The UAE is rapidly integrating digital currencies across various sectors, including retail, real estate, and beyond.
- 🚀 Public interest in cryptocurrencies is soaring, with a significant portion of UAE residents now owning digital assets, solidifying the nation’s influential position on the global crypto stage.
🔹 A Crypto-Friendly Regulatory Environment:
- Low taxes and progressive regulations make the UAE an attractive destination for crypto businesses and investors alike.
- The combination of a highly digitalized and wealthy population, along with strong government support and a thriving startup ecosystem, creates the perfect environment for the continued growth of the crypto sector.
🔥 Don’t Miss Out on the UAE’s Crypto Revolution! Stay ahead of the curve by staying informed and engaging with the crypto community. The UAE is fast becoming one of the world’s most crypto-friendly nations, and the opportunities are endless.
#DOGSONBINANCE #TON #UAECrypto #Blockchain $BTC
🚨 UAE Exempts Crypto Transfers from VAT
The UAE is stepping up as a top crypto-friendly hub! With new amendments to the country’s VAT regulations, transfers and conversions of virtual assets, including cryptocurrencies, are now exempt from VAT.
Crypto transactions and conversions are VAT-free, making the UAE an even more attractive spot for digital asset companies. This VAT exemption is applied retrospectively from January 1, 2018, meaning businesses can also reclaim previously paid VAT on eligible transactions. Businesses dealing in crypto should review their past VAT filings for any potential recovery. Input VAT recovery lets registered firms claim back VAT on business expenses, which is a huge tax benefit for crypto players!
Dubai’s VARA and the SCA are streamlining licenses for VASPs. Now, firms licensed by VARA can also serve the wider UAE market through automatic SCA registration. VARA has also tightened marketing rules: Crypto promos must include disclaimers about extreme volatility and possible full loss of value.
Is the UAE setting the stage for even more crypto growth?
Follow @Professor Mende - Bonuz Ecosystem Founder for more updates!
#VATExemption #UAECrypto #Blockchain #UAE #CryptoMarketNews
The UAE is stepping up as a top crypto-friendly hub! With new amendments to the country’s VAT regulations, transfers and conversions of virtual assets, including cryptocurrencies, are now exempt from VAT.
Crypto transactions and conversions are VAT-free, making the UAE an even more attractive spot for digital asset companies. This VAT exemption is applied retrospectively from January 1, 2018, meaning businesses can also reclaim previously paid VAT on eligible transactions. Businesses dealing in crypto should review their past VAT filings for any potential recovery. Input VAT recovery lets registered firms claim back VAT on business expenses, which is a huge tax benefit for crypto players!
Dubai’s VARA and the SCA are streamlining licenses for VASPs. Now, firms licensed by VARA can also serve the wider UAE market through automatic SCA registration. VARA has also tightened marketing rules: Crypto promos must include disclaimers about extreme volatility and possible full loss of value.
Is the UAE setting the stage for even more crypto growth?
Follow @Professor Mende - Bonuz Ecosystem Founder for more updates!
#VATExemption #UAECrypto #Blockchain #UAE #CryptoMarketNews