The United Arab Emirates (UAE) has taken a major step towards integrating cryptocurrencies into the traditional financial system by exempting crypto transfers and conversions from value-added tax (VAT). The move is aimed at lowering barriers to using digital assets and attracting more investors and traders to the region. The tax break is expected to strengthen the UAE’s position as a hub for cryptocurrency transactions and increase interest in cryptocurrencies such as Bitcoin ($BTC ) and Ethereum ($ETH ) .

This change could have a significant impact on the UAE crypto community by making crypto assets more accessible and profitable for users. Increased liquidity and reduced transaction costs could drive increased interest in digital assets in the region.

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