Dubai has officially sanctioned the use of Bitcoin and other cryptocurrencies for salary payments, following a groundbreaking ruling by Saudi Arabia’s Dubai Court of First Instance.
The decision, issued under case number 1739 of 2024, grants legal approval for employers to pay wages in digital currencies, representing a major advancement toward the mainstream adoption of cryptocurrencies in the region.
This development aligns with Dubai’s broader vision to establish itself as a global leader in cryptocurrency and blockchain technology, potentially expanding financial inclusion and increasing the practical applications of digital assets.
Reactions below:
BREAKING‼️
DUBAI APPROVES CRYPTO SALARY PAYMENTS pic.twitter.com/v0mppY9kSd
— Radar🚨 (@RadarHits) August 17, 2024
Dubai officially approves #Bitcoin and #Crypto for salary payments.
Meanwhile, in 🇮🇳 India, you have to pay 1% TDS and 30% tax
You can’t even offset the loss
and still there is no clear regulation.
— Wise Advice (@wiseadvicesumit) August 17, 2024
