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UAE’s crypto success showcases innovation-driven growth with clear regulations and tax incentives. Trump administration eyes blockchain and stablecoin integration to lead global digital finance competition. As the United States braces for a potential cryptocurrency policy shift, with Donald Trump set to assume office on the 20th of January. Now, the spotlight has turned to global leaders in digital finance. UAE’s crypto vision Among them, the United Arab Emirates (UAE) stands out as a thriving hub for cryptocurrency and blockchain innovation. Advocates suggest the UAE’s clear regulations and strategic investments offer a compelling blueprint for the incoming U.S. administration.  In fact, by embracing blockchain and establishing robust regulatory frameworks, the UAE has struck a leadership position in an industry where the U.S. has often faltered. Eric Trump on UAE’s role in crypto Speaking on the matter, Eric Trump during the Bitcoin [BTC] MENA conference in Abu Dhabi, underscored the UAE’s role as a model for crypto advancement. He said, “The UAE has shown how to do this right. By supporting crypto innovation, they’ve created jobs, attracted investment and strengthened their global standing. The U.S. can and should do the same.”  In fact, between July 2023 and June 2024, crypto transactions in the UAE soared to an impressive $34 billion, marking a 42% increase from the prior year, as per Chainalysis’ report. UAE’s crypto success story A key factor in this surge was the government’s decision to exempt cryptocurrency transactions from value-added tax. This exemption was applied retroactively to 2018. This tax relief, designed to “supercharge” the sector, has reinforced the UAE’s position as a global leader in digital finance. It has attracted businesses and investors. Additionally, there has been a significant focus on stablecoins due to their reliability in volatile cryptocurrency markets. Stablecoins are increasingly utilized for cross-border payments and everyday…

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Filed under: News - @ January 14, 2025 6:10 am