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The United Arab Emirates (UAE) has taken a significant step forward in the realm of cryptocurrency by exempting digital asset transactions from the nation’s 5% value-added tax (VAT). This amendment, documented on October 4, is set to assess its impact starting November 15, 2024, while simultaneously applying retroactively to transactions made since January 1, 2018.
The legal confrontation between Ripple Labs and the United States Securities and Exchange Commission (SEC) has drawn considerable attention within the cryptocurrency ecosystem. The complexities of this case highlight larger issues surrounding digital asset regulation in the United States, particularly as Ripple recently filed a notice of cross-appeal to the Second Circuit Court. This critical
Samuel Edyme, known in various spheres of the online universe as HIM-buktu, embodies the evolving spirit of the cryptocurrency landscape as a content writer, journalist, and aspiring trader. His journey into the chaotic world of digital currencies is rife with challenges, triumphs, and, at times, sheer absurdity that would make for a compelling cinematic plot.
Bitcoin (BTC) has recently faced significant volatility, trading below the crucial $60,000 mark. This recent decrease highlights the challenges the cryptocurrency is experiencing in establishing an upward momentum, particularly in the face of resistance levels that appear to impede recovery efforts. The cryptocurrency’s price dynamics reflect a broader trend of uncertainty, complicating the prospects for
The South Korean Financial Services Commission (FSC) has initiated an investigation into Upbit, the nation’s preeminent cryptocurrency trading platform. This inquiry stems from concerns regarding Upbit’s market dominance and its consequential influence on the virtual asset landscape, as highlighted in a report from the local media. The FSC, led by Chairman Kim Byung-hwan, is poised
On October 10, 2023, South Korea’s Financial Services Commission (FSC) unveiled a significant development in the regulatory landscape of digital assets by announcing the formation of a Virtual Asset Committee. This new body aims to facilitate the approval process for spot crypto exchange-traded funds (ETFs) and is portrayed as a crucial advisory group for overseeing