10 sats \ 0 replies \ @KenyaCoin OP 28 Jul 2022
reply
25 sats \ 1 reply \ @TheBTCManual 28 Jul 2022
I wonder if this will be subject to any tax, if not degens will be flocking to dubai to trade shitcoins and NFTs and get themselves rekt
reply
0 sats \ 0 replies \ @KenyaCoin OP 28 Jul 2022
UAE finally letting a domestic bank be used for BTC/AED trading is a huge step forward for them. Kraken does KYC, of course, so regulators should be satisfied.
As far as tax, ... UAE doesn't have any capital gains taxes.
reply
10 sats \ 0 replies \ @KenyaCoin OP 28 Jul 2022
Here is the press release by the bank:
RAKBANK will become the first UAE bank to enable Kraken to offer transparent, efficient, dirham-based digital asset trading to their customers, as the UAE takes strides to achieve its vision of becoming a global virtual asset hub.
https://rakbank.ae/wps/portal/retail-banking/about-us/press-releases?id=%22RAKBANK%20and%20Kraken%20to%20Offer%20UAE%27s%20First%20AED-Denominated%20Virtual%20Asset%20Trading%22
reply