9 hours ago
Authorities successful the United Arab Emirates person officially refuted claims that integer plus investors present suffice for the country’s semipermanent Golden Visa.
The clarification comes aft societal media reports suggested a caller residency pathway had emerged for crypto users, peculiarly those progressive with the Telegram-related TON token.
UAE rejects TON’s aureate visa
In a associated statement released connected July 7, 3 large regulatory bodies, including the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA), denied immoderate specified initiative.
The ICP clarified that the Golden Visa is constricted to individuals who conscionable circumstantial eligibility criteria, specified arsenic existent property investors, entrepreneurs, scientists, and exceptional talents. Digital plus holders bash not presently autumn wrong that framework.
The SCA added that virtual assets are regulated nether a abstracted ineligible operation unrelated to the Golden Visa program.
VARA echoed this, stating that nary integer plus inaugural grants visa privileges successful the country. It besides confirmed that TON is not licensed oregon authorized to run wrong the UAE’s regulatory environment.
The authorities urged residents and prospective applicants to trust solely connected licensed firms and to consult authoritative authorities portals for close and up-to-date programme information.
‘Aggressive marketing’
The quality generated important online discussion. Binance laminitis Changpeng Zhao (CZ) described the archetypal TON announcement arsenic “aggressive/misleading marketing.”
According to him:
“You tin wage $1k (in astir large cryptos) to an cause to taxable an exertion for a aureate visa. No guarantees, but if you are worthy your salt, determination is simply a precocious accidental you volition get it.”
The contention stems from TON’s announcement of a caller Golden Visa pathway for crypto investors implicit the weekend.
According to its promotion, individuals could summation a 10-year residency successful the UAE by staking $100,000 worthy of TON tokens and paying a one-time processing interest of $35,000.
The task claimed that tokens would beryllium locked for 3 years utilizing a transparent, non-custodial astute contract. This would let users to clasp ownership and gain betwixt 3% and 4% annually.
TON framed this arsenic a much accessible way compared to accepted options, which often necessitate existent property investments exceeding $500,000.
The station UAE debunks rumors of crypto-backed Golden Visa for TON investors appeared archetypal connected CryptoSlate.
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