Is The UAE Turning Into a Crypto Hotspot?

What we’ll cover today:

📈 Is The UAE Turning Into a Crypto Hotspot?

💸 Online Romance Could Cost You Everything.

🪙 Chinese Investors are Turning Away From Crypto.

1. Is the UAE turning into a crypto hotspot?

Big news just dropped—crypto transfers and conversions are now VAT-free!

Yep, you read that right.

And it’s not just starting now—it applies back to January 1, 2018.

If you’re in the crypto game, this could mean major savings.

But that's just the beginning:

• Dubai's regulators are teaming up to streamline licenses and regulations for crypto businesses.

• Crypto firms can now operate across the UAE with just one license.

• A new rule requires companies to include a volatility warning on all marketing material.

Let’s be honest: digital assets can skyrocket or crash quickly.

Less tax, more clarity, and smoother sailing in the UAE’s booming crypto scene.

Here’s the whole article

2. Online Romance Could Cost You Everything.

That’s exactly what happened to victims of a massive cross-border scam.

Vietnamese authorities recently busted the operation, exposing how far the fraudsters went.

Here’s how the scam unfolded:

• Fake profiles: Criminals, led by foreign nationals, posed as potential romantic partners online.

• Trust-building: Small returns were given to victims to establish legitimacy.

• The big ask: Once trust was secured, victims were lured into investing larger sums into fake cryptocurrency platforms like “Biconomynft.”

• Disappearing act: After the money was invested, accounts were frozen, and victims lost everything.

Five Vietnamese suspects were caught, including Vi Văn Linh, who scammed one victim out of 18.6 billion dong.

As more arrests happen, the investigation is just getting started.

Here’s the whole article.

3. Chinese Investors are Turning Away From Crypto.

Chinese investors are turning away from crypto and diving into the stock market.

Despite China’s crypto ban, many found ways to keep trading digital currencies.

But now, Tether’s USDT is being sold off—and fast.

Here’s why:

• China’s stock market is surging. The Shanghai Composite Index jumped 21% in just a few days.

• Investors are cashing out crypto. They’re converting Tether into cash to buy stocks.

• Even big players are making moves. Institutional investors are also reallocating funds from digital assets to equities.

Is crypto losing its grip in China?

Here’s the whole article