The local cryptocurrency of the open network has been reviewed by 6% from its 24-hour high 24-hour high after the United Arab Emirates’ joint regulator refuted the claim that Staging Toncoin (TON) can be a pathway for residence for the UAE.
Tons of coins initially shooting On Sunday, up 10% to $3.03 Open Internet Claiming that the applicant deposits 100,000 US dollars worth of tonnes of coins over three years makes the applicant eligible for the UAE Golden Visa Program.
but, Cryptocurrency The UAE News Service shared a joint statement from several regulators, partially reviewed after denying the claim.
TON is now trading at $2.84, 6% higher than the recent 24-hour release.
UAE disputed golden visa requirements
Tons claim that applicants will hold $100,000 worth of $100,000 within three years and pay a one-time processing fee of $35,000 will be eligible for a 10-year Golden Visa.
Telegram CEO Pavel Durov passed Repost Crypto influencer Ash Crypto made an announcement on Sunday, though he had no official comments.
but, UAE News then reported on Monday The Administration of Federal Identity, Citizenship, Customs and Port Security, Securities and Commodity Administration, and the Virtual Assets Regulatory Authority said the Golden Visa was not issued to digital asset holders.
They also clarified that digital currency investment is governed by specific regulations and has nothing to do with Golden Visa eligibility.
UAE News reported: “The authorities further confirmed that digital currency investment is governed by specific regulations and has nothing to do with the qualification of a golden visa. It urges investors to obtain information from credible official information to avoid misleading or fraud.”
Cointelegraph approaches Ton Foundation and CEO Max Crown.
Golden Visa Qualification
The Golden Visa is a long-term residence visa proposed by the UAE government in 2019 to attract skilled individuals to the region.
It enables foreign nationals to live, work and study in the UAE without the need for a state sponsor, with visa durations ranging from five to ten years, according to To federal identity, citizenship, customs and port security.
To meet the criteria, users must meet strict standards such as having special skills such as becoming a doctor, scientist or researcher.
Investors can get a golden visa if they have a public investment worth 2 million UAE Dirham ($544,000) or more.
Entrepreneurs can also qualify if they own registered startups recognized by UAE authorities based on technology.
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