Dwelling » Legislation » UAE authorities impart granting golden visas for crypto merchants amid TON buzz
Jul. 6, 2025
TON’s program is a third-occasion carrier that makes expend of Toncoin as a instrument to help clients qualify, rather then an real initiative backed by the UAE government.
Key Takeaways
- UAE authorities comprise denied offering golden visas to crypto merchants, together with thru The Open Community’s program.
- The Open Community’s Toncoin is now not licensed or regulated by UAE authorities for residency or visa purposes.
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UAE authorities comprise issued a joint assertion denying stories that the nation grants golden visas to crypto merchants, namely addressing claims associated to The Open Community’s (TON) now not too long ago presented UAE Golden Visa program.
In maintaining with a Monday press liberate from the Emirates Info Agency (WAM), the Federal Authority for Id, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Digital Sources Regulatory Authority (VARA) clarified that golden visas are issued below particular frameworks that pause now not consist of digital forex merchants.
The ICP outlined that golden visa eligibility is miniature to “true estate merchants, entrepreneurs, distinctive expertise, scientists and specialists, top college students and graduates, humanitarian pioneers, and frontline personnel.”
VARA explicitly said that TON is neither licensed nor regulated by the authorities, in response to TON’s announcement of a program offering UAE Golden Visas thru the crypto staking of $100,000 in TON tokens for 3 years, accompanied by a $35,000 processing price.
The SCA emphasised its commitment to global standards in monetary sector regulation, pointing out that “digital forex investments are ruled by particular regulations and are unrelated to golden visa eligibility.”
The three authorities entreated the final public to exercise caution and depend on real government net sites for unprejudiced appropriate facts about visa requirements. They warned against participating in unverified adverts or affords circulating online.
TON did now not narrate it was teaming up with the UAE government. The program is rather a third-occasion carrier the expend of TON’s token, Toncoin, to reinforce buyer qualification.
Toncoin climbed 13% to over $3 following the preliminary announcement of the program, however plunged to $2.8 following the authorities’ clarification, per TradingView.
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