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Dash Kuvacash updates and activities

In my third interview with Max and James of KuvaCash, I examined their legal opinion that the new 2% tax on transactions doesn't apply to them. Dash for the win!

With regards to the impending KuvaCash launch proposal, there have been questions about if the new 2% tax applies. The new tax is very unpopular and would be a nuisance to collect etc.


Spoiler: The new tax doesn't apply to Kuva/Dash and is a significant competitive advantage.

This legal opinion was determined with exhaustive, in depth analysis. There are at least three reasons why the new tax does not apply to Kuva/Dash. In addition to analyzing the specific new law itself, the legal firm examined the Finance Act, the Income Tax Act and the Mobile Banking Act, among others.

If I can boil down the 7 page conclusion even more, this is not even a grey area. The new tax does not apply. They referred to it as a “fortified” opinion. Rendering this opinion also would have significant if not severe repercussions for them (the law firm) if they were wrong.

The main arguments are:

  1. The transfers are done in a cryptocurrency (Dash), which is not an e-money technically and legally.

  2. Kuva never has custody of the customer’s or the merchant’s money.

  3. The servers and software do not reside in Zimbabwe.
I also confirmed that this is a real law firm that deals routinely with these specific kinds of legal and bureaucratic questions.
This is fantastic news.