The UAE has introduced new VAT amendments that impact cryptocurrency transactions. The amendments are effective November 15, 2024, and have retroactive rules from 2018. On October 2, 2024, the United Arab Emirates Federal Tax Authority (FTA) introduced crucial amendments to its Value Added Tax (VAT) regulations, impacting businesses dealing with cryptocurrencies and other digital assets. …
Ripple has received approval from the Dubai Financial Services Authority (DFSA) to expand its services as a regulated provider of cross-border payment solutions in the UAE. The DFSA license supports Ripple’s mission to combine regulatory compliance with advanced digital infrastructure, facilitating cost-effective, faster, and efficient cross-border payments. Leading blockchain and crypto infrastructure provider Ripple announced…
The BRICS bloc might have already overcome its dollar-dependence problem, as the volume of settlements in the national currencies of its member nations has already surpassed the USD-based exchanges. Using the U.S. dollar can lead to expenses that can be avoided when paying with other currencies, BRICS Deputy Chairman of the Chamber of Commerce and…
Tether’s AED-pegged stablecoin aims to provide a transparent, cost-effective hedge against currency fluctuations fully backed by UAE-based reserves. The AED-pegged stablecoin will also support the UAE’s growing economic activities, offering businesses and individuals an efficient and secure means for trading, cross-border payments, and digital asset diversification. Stablecoin issuer Tether recently announced its plans to launch…