Cryptocurrency Live News
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Dubai International Financial Center (DIFC), a special economic zone, announced a new digital asset law, security law, and amendments to existing laws. It has a legal system based on British law. DIFC will update its cryptocurrency regulations in 2022 and begin paying subsidies for licenses for artificial intelligence and Web3 companies from 2023. This is not the first time cryptocurrencies have been issued as property, as courts in China, Singapore and Hong Kong ruled in similar cases last year. The move aims to adapt the legal framework to technological advancements and provide tax exemptions for cryptocurrency businesses.