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Daily News Summary 7/10

October 7, 2024 Tóth Balázs
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UAE Abolishes Crypto VAT

The United Arab Emirates has announced that it will exempt transactions involving virtual assets and the transfer of ownership rights over these assets from VAT. The change, effective November 15, will also apply retroactively to transactions dating back to January 1, 2018. This new rule puts the industry on par with more traditional financial services.

Metaplanet Continues to Accumulate BTC

Tokyo Stock Exchange-listed investment firm Metaplanet has purchased an additional 108.7 bitcoins, increasing its holdings to 639.5 bitcoins, valued at approximately $40.6 million at current prices. The company remains steadfastly optimistic about Bitcoin’s future prospects.

Crypto.com Announces New Partnership

Crypto broker Crypto.com has announced a partnership with 21.co to provide Bitcoin liquidity for the existing 21.co Wrapped Bitcoin (21BTC) product. 21.co is best known for its subsidiary 21Shares, a crypto asset manager that has launched multiple crypto ETFs. The companies plan to collaborate on other product offerings in the future.
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