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Dubai Court Suddenly Realizes Crypto Isn’t Actually Made of Unicorn Tears and Decides It Can Be Used for Normal Things Like Paying People

An illustration: A judge sits at a desk with papers scattered around them; they hold up their hand to halt the flow of money pouring from one side of the room (labelled 'Employer') towards another (labelled 'Employee'); in the background, coins and banknotes are replaced by cryptocurrency symbols floating upwards. The scene is set against a cityscape at sunset with skyscrapers representing Dubai's skyline; people walk through streets below as they go about their daily business while looking up to see what’s happening above them.

It’s about time Dubai caught up with the rest of us who think cryptocurrency is a scam! Who needs to be paid in crypto when it’s just numbers on a computer created from nothing? I mean, what could possibly go wrong? And speaking of going wrong, Turkey has seen an influx of 76 companies applying for licenses under its new regulatory framework. But don’t get too excited; the Turkish Capital Markets Board clarified that having your name on this list doesn’t equate to official authorization – it’s like being a friend with benefits but not actually being in a relationship.

Source: cointelegraph

On Aug. 16, the Dubai Court of First Instance recognized crypto as a valid salary payment option. Irina Heaver, a partner at United Arab Emirates law firm NeosLegal, explained that the ruling in case 1739 of 2024 is a shift in the court’s stance, which previously denied recognizing cryptocurrencies as valid salary payments due to their lack of precise valuation. According to Heaver, the case involved a lawsuit claiming that […]

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