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<p>The post <a href="https://cryptosnewss.com/uaes-tax-free-policy-earns-praise-from-shiba-inus-shytoshi-kusama/" rel="noopener noreferrer nofollow">UAE&#39;s Tax-Free Policy Earns Praise from Shiba Inu&#39;s Shytoshi Kusama</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.</p><p></p><p>Shytoshi Kusama, the enigmatic lead developer of the Shiba Inu ecosystem, praised the <a href="https://cryptosnewss.com/uaes-huge-crypto-move-vat-exemptions-for-bitcoin-more/" rel="noopener noreferrer nofollow">UAE administration for exempting cryptocurrency transactions from value-added tax (VAT)</a>. This move by the UAE has been hailed as a significant step towards creating a more crypto-friendly environment.</p><h2 id="header-0">UAE&#39;s Tax Exemption on Crypto Transactions</h2><p>The UAE&#39;s Federal Tax Authority recently amended the country&#39;s VAT laws, making cryptocurrency transactions tax-free. This decision, retroactive to January 1, 2018, is set to take effect on November 15, 2024. The exemption is expected to attract more crypto businesses and investors to the UAE, positioning the country as a leading hub for digital asset transactions.</p><h2 id="header-1">Shytoshi Kusama&#39;s Response</h2><p>In response to the news, Kusama took to social media to express his admiration for the UAE&#39;s progressive stance on cryptocurrencies. He shared a GIF of Vegeta, a character from the popular anime series Dragon Ball, and referred to the UAE as the &#34;crypto capital&#34;. This public endorsement highlights Kusama&#39;s support for the UAE&#39;s efforts to foster a thriving crypto ecosystem.</p><blockquote><a href="https://twitter.com/hashtag/cryptocapital?src&#61;hash&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">#cryptocapital</a> <a href="https://t.co/DEYRzhrizZ" rel="noopener noreferrer nofollow">https://t.co/DEYRzhrizZ</a> <a href="https://t.co/xtT7Uw8OzE" rel="noopener noreferrer nofollow">pic.twitter.com/xtT7Uw8OzE</a>— Shytoshi Kusama™ (&#64;ShytoshiKusama) <a href="https://twitter.com/ShytoshiKusama/status/1842946614773862591?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">October 6, 2024</a></blockquote><h2 id="header-2">Implications for Shiba Inu and the Crypto Market</h2><p>The UAE&#39;s tax exemption is likely to have a positive impact on Shiba Inu and other cryptocurrencies. By creating a more favorable regulatory environment, the UAE could attract more investors and businesses to the region, boosting the overall growth of the crypto market. Kusama&#39;s endorsement further solidifies the UAE&#39;s reputation as a crypto-friendly nation, potentially leading to increased adoption and usage of Shiba Inu and other digital assets.</p><p><strong>Conclusion</strong></p><p>The UAE&#39;s decision to exempt cryptocurrency transactions from VAT, coupled with Shytoshi Kusama&#39;s endorsement, marks a significant milestone in the global crypto landscape. This move is expected to attract more crypto businesses and investors to the UAE, positioning the country as a leading hub for digital asset transactions. As the crypto market continues to evolve, the UAE&#39;s progressive stance on cryptocurrencies will likely play a crucial role in shaping the future of the industry.</p><p></p><p>The post <a href="https://cryptosnewss.com" rel="noopener noreferrer nofollow">UAE&#39;s Tax-Free Policy Earns Praise from Shiba Inu&#39;s Shytoshi Kusama</a> appeared first on Cryptos Newss.</p>

UAE's Tax-Free Policy Earns Praise from Shiba Inu's Shytoshi Kusama

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