VARA Says TON Is not Even Regulated in Dubai as UAE Authorities Debunk Experiences of Golden Visa

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United Arab Emirates (UAE) authorities have sharply rebuffed studies of people having the ability to purchase UAE’s Golden Visa by staking Toncoin

.

The Federal Authority for Identification, Citizenship, Customs and Port Safety

, the Securities and Commodities Authority (SCA), and Dubai’s crypto regulator Digital Property Regulatory Authority (VARA), issued a statement on Monday denying any such association.

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ICP mentioned that golden visas frameworks nonetheless don’t embody digital foreign money traders. VARA additionally reiterated that TON is neither licensed nor regulated by the regulator.

Over the weekend, Max Crown, CEO of the TON Foundation, which manages the Telegram-based crypto ecosystem, mentioned on X, that Toncoin holders can now purchase UAE’s a lot wanted Golden Visa by staking TON.

Crown added that candidates who stake $100,000 value of toncoin for 3 years and pay a one-time processing payment of $35,000, can now get a 10-year Golden Visa.

TON surged 12% after the announcement leaping to just about $2.9.

In Might, Telegram founder Pavel Durov mentioned that the messaging platform has partnered with Elon Musk’s synthetic intelligence agency, xAI. Quickly after, Musk clarified that the deal was but to be signed.

Learn extra: TON Surges on UAE Golden Visa News; Crypto Community Reacts With Excitement and Doubt





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