Key dealers
- The UAE authorities have denied offering golden visas to crypto investors, including through the open network’s program.
- The open network’s toncoin is not licensed or regulated by UAE authorities for residence or visa purposes.
The UAE authorities have issued a joint statement that denies reports that the country grants golden visas to crypto investors, and specifically deals with claims related to Open Network’s (ton) announced UAE Golden VISA program.
According to a Monday press release From the Emirates News Agency (WAM) clarified the Federal Identity, Citizenship, Customs and Port Safety Authority (ICP), Securities and Commodities Authority (SCA) and the virtual assets in Revulatory (Vara) that Golden Visa is issued under specific frames.
The ICP described that golden visa rights are limited to “real estate investors, entrepreneurs, exceptional talents, researchers and specialists, top students and academics, humanitarian pioneers and frontline workers.”
Be explicitly stated that tons are neither licensed nor regulated by the authorities, in response to Ton’s announcement of an Programs offering UAE Golden appear Through the $ 100,000 crypto in tonnes of tone symbols for three years, accompanied by a treatment fee of $ 35,000.
SCA emphasized its commitment to international standards in the financial sector’s regulation and found that “digital currency investments are regulated by specific regulations and are not related to golden visa.”
The three authorities urged the public to exercise caution and rely on official government sites for correct information about visa requirements. They warned to get involved in unverified ads or offer circulating online.
Ton did not claim that it collaborated with the UAE government. Rather, the program is a third -party service that uses Ton’s Token, Toncoin, to support customer qualification.
Toncoin climbed 13% to over $ 3 after the first announcement of the program, but fell to $ 2.8 after the clarification of the authorities, per tradingview.
