⚡️Qatar🇶🇦 Introduces Digital Asset Regulations‼️

⚡️Qatar🇶🇦 Introduces Digital Asset Regulations‼️

The new Central Bank rules cover the procedures for storing, transferring, and exchanging cryptocurrencies at the Qatar Financial Centre (QFC) in Doha.

🔝 The Regulator — QFC — is an onshore commercial and financial center located in Doha that provides legal and regulatory services for both local and international companies. The center operates under a legal, regulatory, tax, and business framework separate from the rest of the country.

🔝 The QFC allows up to 100% foreign ownership and 100% profit repatriation. Additionally, it imposes a “*competitive corporate tax rate of 10% on profits generated from local sources”*.

🔝 The regulation aims to implement new technologies to accelerate the country’s digital transformation.

🔝 Following the launch of the QFC Digital Assets Framework 2024, companies will be able to apply for licenses to offer token-related services in the local market.

🔝 Context: Over the past year, more than 20 startups and fintech companies have been accepted into the QFC's lab to develop, test, and market their digital asset products and services.

*Line up, gentlemen, line up.*

#news #crypto #Asia

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