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Will Bitcoin Price Benefit from UAE’s New VAT Exemptions for Virtual Assets?

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Summary
Nutrition label

70% Informative

Bitcoin price surged 0.55% during the low-volatility weekend , currently trading at $ 62400 .

UAE Federal Tax Authority ( FTA ) introduced a major revision to VAT regulations, exempting virtual asset transfers and conversions retroactive from January 1, 2018 .

The $ 60,000 level backed by 200-day exponential moving creates a high-interest area for crypto buyers.

If Bitcoin price breaks below $ 60 support or reverts from flag resistance, sellers could accelerate the bearish momentum.

VR Score

52

Informative language

42

Neutral language

45

Article tone

formal

Language

English

Language complexity

52

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

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