Oh, the irony! The United Arab Emirates government has denied the existence of a golden visa program for cryptocurrency investors, specifically for TON token holders. The Virtual Assets Regulatory Authority emphasized that TON is not regulated in the country.
UAE Government Squashes Golden Visa Dreams for Crypto Enthusiasts
The government of the United Arab Emirates (UAE) has dashed the hopes of cryptocurrency investors, specifically those holding TON tokens, by denying the existence of a golden visa program tailored for them. The clarification comes as a blog post from The Open Network (TON) presented a “10-Year UAE Golden Visa with TON” initiative.
According to the Emirates News Agency (WAM), institutions reported not having any knowledge of this arrangement, with the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) highlighting that “golden visas are issued according to clear and officially approved frameworks and criteria, which do not include digital currency investors.”
The institution stressed that the golden visa programs include real estate investors, entrepreneurs, exceptional talents, scientists and specialists, top students and graduates, humanitarian pioneers, and frontline workers.
The Securities and Commodities Authority (SCA) stressed that “digital currency investments are governed by specific regulations and are unrelated to golden visa eligibility.”
Furthermore, it stated that investors should obtain their news from credible sources to avoid fraud or misinformation.
Finally, the Virtual Assets Regulatory Authority (VARA) noted that companies receiving a digital assets license must follow the visa procedures established by the government of Dubai, denying any claims of a program enabling the issuance of golden visas to digital assets investors.
Nonetheless, the TON site, still active at the time of writing, offers an expedited golden visa procedure for investors able to stake $100,000 worth of TON tokens. TON Foundation states that investors can get a visa in under 7 weeks with a processing fee of $35k and that the TON staked can be withdrawn after three years.
Former Binance CEO Changpeng Zhao had expressed his doubts about this proposal. “This program would be awesome if it was true. I didn’t want to bug too many “official” friends on a Sunday,” he declared on social media.
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2025-07-07 13:02