UAE accepts crypto as salary: will crypto soon receive a huge new inflow?

[KryptoBull]

You nailed it. UAE I think has a huge potential if becoming a Crypto hub Is a goal for them. The UAE is a major tourist attractions and come to talk of it, they are a wealthy nation just as you have said so dealing on Crypto would not be a problem as we already see how their government is working hand in hand with Crypto enthusiast and organisations to making sure they get a place in the Crypto industry. I believe they already foresee the future and are preparing or bracing up to making sure they take their position.

The UAE would really trigger the adoption of Crypto in Asia if they fully incorporate crypto currency into their laws. Many nations are just waiting for other big and wealthy nations they have affiliation with to just make a bold step for them to follow. Once that happens, the Crypto adoption would spike up a new phase of financial freedom for those smaller nations.

As far as I know, UAE became wealthy not only because of oil but also because it is the center of global financial flows. UAE provides services for circulating huge capital flows and earns intermediary fees to become wealthy.

This is also the basis for UAE wanting to become a crypto hub to circulate capital flows in the crypto market. If this is true, we can hope that crypto will reach many major economies globally and gain widespread acceptance quickly.

• How money moves in United Arab Emirates

[luckyledger]

You nailed it. UAE I think has a huge potential if becoming a Crypto hub Is a goal for them. The UAE is a major tourist attractions and come to talk of it, they are a wealthy nation just as you have said so dealing on Crypto would not be a problem as we already see how their government is working hand in hand with Crypto enthusiast and organisations to making sure they get a place in the Crypto industry. I believe they already foresee the future and are preparing or bracing up to making sure they take their position.

The UAE would really trigger the adoption of Crypto in Asia if they fully incorporate crypto currency into their laws. Many nations are just waiting for other big and wealthy nations they have affiliation with to just make a bold step for them to follow. Once that happens, the Crypto adoption would spike up a new phase of financial freedom for those smaller nations.

As far as I know, UAE became wealthy not only because of oil but also because it is the center of global financial flows. UAE provides services for circulating huge capital flows and earns intermediary fees to become wealthy.

This is also the basis for UAE wanting to become a crypto hub to circulate capital flows in the crypto market. If this is true, we can hope that crypto will reach many major economies globally and gain widespread acceptance quickly.

• How money moves in United Arab Emirates
  

That's a smart move - really. They are going into the long run with this one if they succeed

[Azharul]

I think it is good idea for courts in UAE as they are starting accepting cryptocurrency as payment. This could be important step towards government accepting it as valid form of payment. If  courts accept it it will make cryptocurrency more credible and might lead to it becoming official way to pay.

This will fit with UAE goal of being a leader in innovation and technology. It will also show that government is willing to adapt to new ideas and meet  changing needs for people. If courts start accepting cryptocurrency  government may follow it too and we may see it become official way to pay in UAE it will possible even instead of traditional currency AED or may be they can release CBDC.

I believe that UAE court was selected best decision for there country. Because we know that cryptocurrency will be a significant payment system in the crypto currency world. Because i believe that cryptocurrency will be promote in global financial flow. I also believe that salary in cryptocurrency will be best modern process for there country.  Because if we follow in arab amirate, we also see there payment system. So i believe that in future almost country will follow in this process.

[gunhell16]

You nailed it. UAE I think has a huge potential if becoming a Crypto hub Is a goal for them. The UAE is a major tourist attractions and come to talk of it, they are a wealthy nation just as you have said so dealing on Crypto would not be a problem as we already see how their government is working hand in hand with Crypto enthusiast and organisations to making sure they get a place in the Crypto industry. I believe they already foresee the future and are preparing or bracing up to making sure they take their position.

The UAE would really trigger the adoption of Crypto in Asia if they fully incorporate crypto currency into their laws. Many nations are just waiting for other big and wealthy nations they have affiliation with to just make a bold step for them to follow. Once that happens, the Crypto adoption would spike up a new phase of financial freedom for those smaller nations.

As far as I know, UAE became wealthy not only because of oil but also because it is the center of global financial flows. UAE provides services for circulating huge capital flows and earns intermediary fees to become wealthy.

This is also the basis for UAE wanting to become a crypto hub to circulate capital flows in the crypto market. If this is true, we can hope that crypto will reach many major economies globally and gain widespread acceptance quickly.

• How money moves in United Arab Emirates
  

That's a smart move - really. They are going into the long run with this one if they succeed

For us crypto enthusiasts, that can be considered good news, dude, but for people ofw who are expecting their family to leave their country of birth and work in the UAE, I think it will be bad news in their eyes if theirs is negative. mentality.

But if their minds become positive, they will have the opportunity to save Bitcoin little by little, which is no different from saving fiat for the future; the only difference is that there is a high chance that the value of the savings will suddenly increase. them without realizing it when it comes to a short period of time.

[nakmantu99]

Many more positive news, will give good effects, of course.  This is one of them. UAE is an area that is very well known for its great financial situation. And crypto has not been used often there?

Oh, maybe this is the official rule. Actually, if it becomes good news, then it might have a little impact on the market getting better. However, it may not last forever. But what is certain is that if more and more people use crypto as a means of transaction, then the real purpose of crypto will be achieved. Yes, at least in some countries. because we often see strict regulations in some countries regarding the prohibition of crypto as a means of payment.

If many people use cyto as payment, of course it will have a positive impact on crypto, but it is true what you said some countries still cannot accept crypto as a payment method, so we can't see crypto being widely used as payment. But I am happy to hear good news like this if it is true that the UAE accepts crypto as salary payment, this is very good.

[joniboini]

I also believe that salary in cryptocurrency will be best modern process for there country.  Because if we follow in arab amirate, we also see there payment system. So i believe that in future almost country will follow in this process.

What are you referring to? You're saying that UAE and other countries allow crypto payment so that's why they will move to crypto as soon as possible? I think that's a bit far-fetched. They definitely want to take part in crypto, but it will run simultaneously with fiat, just like usual IMO. There's no way they'll stop using fiat unless they limit crypto to whatever blockchain they can control easily. It's a bit far-fetched to assume they consider crypto as the best modern choice or something similar based on the ruling on this case imo.

[KryptoBull]

What are you referring to? You're saying that UAE and other countries allow crypto payment so that's why they will move to crypto as soon as possible? I think that's a bit far-fetched. They definitely want to take part in crypto, but it will run simultaneously with fiat, just like usual IMO. There's no way they'll stop using fiat unless they limit crypto to whatever blockchain they can control easily. It's a bit far-fetched to assume they consider crypto as the best modern choice or something similar based on the ruling on this case imo.

I agree with this viewpoint. The UAE wants to experiment and move quickly in the crypto wave, but they are also mindful of the risks. Adopting crypto while still maintaining fiat is the best choice at this time, as El Salvador has done: people are allowed to pay with both USD and BTC.

The UAE has tremendous potential to succeed with crypto and catalyze widespread adoption of crypto on a global scale, especially with their oil and financial partners. I'm really looking forward to the success of countries that have and are adopting crypto in this uptrend.

[luckyledger]

You nailed it. UAE I think has a huge potential if becoming a Crypto hub Is a goal for them. The UAE is a major tourist attractions and come to talk of it, they are a wealthy nation just as you have said so dealing on Crypto would not be a problem as we already see how their government is working hand in hand with Crypto enthusiast and organisations to making sure they get a place in the Crypto industry. I believe they already foresee the future and are preparing or bracing up to making sure they take their position.

The UAE would really trigger the adoption of Crypto in Asia if they fully incorporate crypto currency into their laws. Many nations are just waiting for other big and wealthy nations they have affiliation with to just make a bold step for them to follow. Once that happens, the Crypto adoption would spike up a new phase of financial freedom for those smaller nations.

As far as I know, UAE became wealthy not only because of oil but also because it is the center of global financial flows. UAE provides services for circulating huge capital flows and earns intermediary fees to become wealthy.

This is also the basis for UAE wanting to become a crypto hub to circulate capital flows in the crypto market. If this is true, we can hope that crypto will reach many major economies globally and gain widespread acceptance quickly.

• How money moves in United Arab Emirates
  

That's a smart move - really. They are going into the long run with this one if they succeed

For us crypto enthusiasts, that can be considered good news, dude, but for people ofw who are expecting their family to leave their country of birth and work in the UAE, I think it will be bad news in their eyes if theirs is negative. mentality.

But if their minds become positive, they will have the opportunity to save Bitcoin little by little, which is no different from saving fiat for the future; the only difference is that there is a high chance that the value of the savings will suddenly increase. them without realizing it when it comes to a short period of time.

They have the possibility in front of them, and only they can grab it That's their choice to make whether to use it or not. Accumulating BTC wouldn't be fast, but it's a reliable course of action for getting started

[KryptoBull]

They have the possibility in front of them, and only they can grab it That's their choice to make whether to use it or not. Accumulating BTC wouldn't be fast, but it's a reliable course of action for getting started

I don't think the UAE has banned crypto for many years. It can be said that it is a country quite open to crypto, and the recent lawsuit only concerns a dispute over the form of payment using crypto. We have not had any reports of UAE citizens facing obstacles or danger when trading or storing crypto.

Investment is each person's decision. If UAE citizens believe in BTC, they can accumulate it whenever they want. The UAE is a wealthy country. If only 1% of its assets flow into BTC and crypto, we would have a huge amount of money enough to make this market grow extremely strongly immediately.

[NotATether]

UAE had already been embracing cryptocurrency and blockchain as a whole in its various futuristic projects. There is nothing that they can do to make bitcoin acceptance like El Salvador's short of making bitcoin a legal tender like they did, but that requires a bitcoin maximalist leading the countries, and I don't see any of the ruling Emirati clique thinking like that.

[KryptoBull]

UAE had already been embracing cryptocurrency and blockchain as a whole in its various futuristic projects. There is nothing that they can do to make bitcoin acceptance like El Salvador's short of making bitcoin a legal tender like they did, but that requires a bitcoin maximalist leading the countries, and I don't see any of the ruling Emirati clique thinking like that.

The crypto market doesn't just consist of BTC maximalists, but also includes many Altcoins fans and those involved in various other areas such as mining, trading, providing intermediary services... UAE doesn't need to adopt a BTC strategy like El Salvador to achieve great economic success, and even the token mentioned in this lawsuit isn't BTC.

I think that when the UAE government fully realizes the entire value of crypto, they will actively apply crypto in the economy and become a key nucleus in the crypto wave on a global scale. This is the scenario I'm looking forward to, but I also understand that everything takes time and a clear plan, as well as the actions of many other governments.

[luckyledger]

They have the possibility in front of them, and only they can grab it That's their choice to make whether to use it or not. Accumulating BTC wouldn't be fast, but it's a reliable course of action for getting started

I don't think the UAE has banned crypto for many years. It can be said that it is a country quite open to crypto, and the recent lawsuit only concerns a dispute over the form of payment using crypto. We have not had any reports of UAE citizens facing obstacles or danger when trading or storing crypto.

Investment is each person's decision. If UAE citizens believe in BTC, they can accumulate it whenever they want. The UAE is a wealthy country. If only 1% of its assets flow into BTC and crypto, we would have a huge amount of money enough to make this market grow extremely strongly immediately.

It sounds bullish, though, we don't know whether it will happen or not.
I hope we will only see positive changes towards the crypto there.

[KryptoBull]

It sounds bullish, though, we don't know whether it will happen or not.
I hope we will only see positive changes towards the crypto there.

If given the choice, I would always lean towards positive developments for the crypto market because that's where I'm dedicating my efforts and earning a living to support my family. While a bearish outlook is often more logical, a bullish sentiment usually prevails in financial markets, as evidenced by the continuous upward trend of stock indices over time.

Currently, market sentiment is in a state of panic, but this could end soon with a significant price increase in BTC. I'm anticipating this and will continue following important policy updates regarding crypto from governments worldwide.