The United Arab Emirates’ Federal Authority for Identity, Citizenship, Customs and Port Security, the Securities and Commodities Authority and Dubai’s Virtual Assets Regulatory Authority issued a joint statement denying that crypto investors can qualify for the country’s 10-year Golden Visa
The United Arab Emirates’ Federal Authority for Identity, Citizenship, Customs and Port Security, the Securities and Commodities Authority and Dubai’s Virtual Assets Regulatory Authority issued a joint statement denying that crypto investors can qualify for the country’s 10-year Golden Visa. The regulators said digital-asset holdings are not among the approved eligibility categories and added that Toncoin is neither licensed nor regulated in the UAE.
Their clarification follows a weekend announcement by the TON Foundation claiming that individuals who stake US$100,000 worth of Toncoin for three years and pay a one-time US$35,000 processing fee could secure a Golden Visa. Toncoin, the token linked to Telegram’s blockchain project, surged about 12% to nearly US$2.9 after the foundation’s post.
The authorities stressed that the visa program remains restricted to real-estate investors, entrepreneurs, exceptional talent, scientists, students and other designated groups, and urged the public to rely only on official government channels for application criteria. The TON Foundation has not yet responded to the regulators’ rebuttal.
This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.
