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Authorities in the United Arab Emirates have officially refuted the claim that digital assets investors are now qualifying for the Long -term Gold Visa of the Earth.
Clarification comes after social media reports indicate that a new way of stay has appeared for the crypto users, especially those involved in the telegram Ton token.
UAE refuses Ton’s golden visa
In the joint declaration Published on July 7, three main regulatory bodies, including the federal body for identity, citizenship, customs and port security (ICP), securities and commodity authority (SCA) and regulatory body for virtual assets (Vara), denied any such initiative.
The ICP explained that the Golden Visa is limited to individuals who meet specific eligibility criteria, such as investors into real estate, entrepreneurs, scientists and exceptional talents. Holders of digital assets are currently not falling into this framework.
SCA added that virtual assets are regulated within a separate legal structure unrelated to the Golden Visa program.
Vara repeated this and said that no digital asset initiative provides visa permission in the country. He also confirmed that TON is not licensed or entitled to work in the regulatory environment of the UAE.
The authorities urged people and potential applicants to rely solely on licensed companies and consult the official government portals on accurate and up -to -date information about the program.
“Aggressive Marketing”
The news generated significant online discussion. Binance Founder of ChangPeng Zhao (CZ) described Initial announcement of TON as “aggressive/misleading marketing”.
According to him:
“You can pay the agent $ 1,000 (in most major cryptos) to apply for a gold visa. No guarantees, but if it’s worth salt, there is a high chance of getting it.”
The controversy stems from Ton’s announcement of a new Gold visa for crypto investors at the weekend.
According to their promotion, individuals could get a ten -year stay in the UAE by standing Ton tokens worth $ 100,000 and paying a one -time processing fee of $ 35,000.
The project argued that the tokens would be locked for three years using a transparent, non-conflict intelligent contract. This would allow users to maintain ownership and earn between 3% and 4% per year.
Ton framed this as a more accessible route compared to traditional possibilities that often require investments in real estate exceeding $ 500,000.
