Bahrain Emerges as New Middle East Crypto Hub BeInCrypto \ stacker news ~bitcoin

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Bahrain Emerges as New Middle East Crypto Hub BeInCrypto beincrypto.com/bahrain-emerges-as-new-middle-east-crypto-hub/

10 sats \ 5 comments \ @cryptocoin 23 Feb 2022 bitcoin

0 sats \ 3 replies \ @cryptocoin OP 23 Feb 2022

[Binance] does not have a fully licensed exchange in the United Arab Emirates.

It does have a fully regulated exchange in neighboring Bahrain, however, as the Arab nation takes the lead as the regional crypto hub according to a recent CNN report.

Unlike most other central banks that have outlawed crypto as a payment method, the CBB permits established banks to work with crypto exchanges enabling easy fiat on and off-ramps for customers.

0 sats \ 1 reply \ @cryptocoin OP 23 Feb 2022

And indeed, Dubai still offers incentives for entrepreneurs; 0% capital gains tax, safety in a complex region and a carefree lifestyle in the sun. Tabbaa, of Bahrain's CoinMENA, lives in Dubai and the CEO of Binance, who awaits a final approval for a Bahraini license, is reported to have recently bought a home in the city.

The Middle East already has a crypto hub, and it's not Dubai https://edition.cnn.com/2022/02/22/investing/mideast-summary-02-22-2022-intl/index.html