The UAE Denies Collaboration with TON to Launch Gold Visa Scheme

BlockBeats News, July 7th. The United Arab Emirates (UAE) Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP), the Securities Commodities Authority (SCA), and the Virtual Asset Regulatory Authority (VARA) jointly issued a statement stating that reports circulating on certain websites and social media platforms about the UAE granting gold visas to cryptocurrency investors are fake news. The issuance of gold visas is based on a clear and officially approved framework and standards, which do not include cryptocurrency investors. The UAE Virtual Asset Regulatory Authority (VARA) also clarified that TON Corporation did not receive a license or regulation from VARA.

Earlier reports stated that TON announced a partnership with the UAE to provide TON Validators with a 10-year gold visa. The related page shows that TON Validators only need to pay a one-time fee of $35,000 to obtain a 10-year gold visa. It is reported that the plan aims to attract high-net-worth individuals and crypto investors to support the TON network through long-term staking while enjoying residency and business convenience in the UAE.