Indian crypto companies moving to Dubai due to uncertain crypto regulation 

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Joel Picardo
Joel Picardo
Joel Picardo has been in the crypto space since 2017. He started his first startup at 21. He headed operations for a Canadian crypto exchange in 2018. He also co-founded a tech blog with over 100k monthly visitors. He has built and sold over 30 news blogs to clients worldwide. While working in crypto and blogging space Joel found a gap in the crypto news space and decided to start Uno Crypto. He has a dream to build Uno Crypto as the number 1 crypto news publication and crypto market research company in the world.

United Arab Emirates (UAE) welcoming regulatory and tax environment has made it an attractive destination for many crypto companies. Indian cryptocurrency companies have faced stringent tax regulations and legal conflicts since the beginning which has led to many of them relocating to Dubai.

According to a Severy from the Reserve Bank of India (RBI), around $19.8 billion has been remitted by India’s expat population living in UAE to India in 2021

India received around $110 billion from global remittances in 2021 and 18% of that came from expats living in UAE.

Recently, Binance and 9 other crypto exchanges were issued notices by the Indian government which made Indian crypto companies move to Dubai.

In 2023, the trade between India and the UAE grew to $85 billion and the economic relationship between the two countries is getting stronger every year.

Exchanges, blockchain, and web3 companies operating in India are flocking to UAE and Singapore as they have clarity and certainty around regulations.

The Indian government imposed a 30% tax on crypto trading profits which is a significant amount which is another reason why India Crypto companies are relocating. 

Dubai: A Growing Crypto Hub

The ease of setting up a business in Dubai Multi Commodities Centre (DMCC) and low taxes have made Dubai a top destination for crypto companies from around the world. 

Dubai Multi Commodities Centre (DMCC) has a whooping 23,000 companies registered and Indian companies have a significant portion of it. UAE stands as a global hub in terms of trade and business.

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