The Open Network's TON coin faces scrutiny as UAE regulators deny claims of golden visa eligibility through staking. Get the latest on this developing story.
The buzz around TON coin and its alleged connection to the UAE's golden visa program has been quite the rollercoaster. Let's break down what happened, shall we?
The Initial Claim: TON Coin to Golden Visa?
Over the weekend, The Open Network (TON) made a splash by suggesting that staking $100,000 worth of Toncoin for three years, plus a $35,000 processing fee, could pave the way for a 10-year UAE golden visa. TON coin jumped 10% to $3.03 at that moment, riding the wave of excitement. Even Telegram CEO Pavel Durov amplified the buzz by reposting the announcement. Sounds like a golden ticket, right?
UAE Regulators Shut It Down
Not so fast. The Emirates News Agency swiftly released a joint statement from several key regulators – the Federal Authority for Identity, Citizenship, Customs and Port Security, the Securities and Commodities Authority, and the Virtual Assets Regulatory Authority – explicitly denying these claims. They clarified that digital asset investments have their own set of rules and regulations, and they're completely separate from golden visa eligibility. Ouch. Talk about a buzzkill.
The Aftermath: TON Coin's Price Dip
Following the regulators' statement, TON coin retraced about 6% from its 24-hour high, currently trading around $2.84. It seems the market reacted quickly to the official denial. The dust is still settling, but one thing is clear: staking TON coin isn't a shortcut to a UAE golden visa.
Golden Visa Eligibility: What It Really Takes
So, what does qualify you for a golden visa? The UAE introduced this long-term residency visa back in 2019 to attract talented folks. To be eligible, you need to meet some pretty specific criteria. Think specialized skills (doctors, scientists, researchers), significant public investments (2 million+ AED), or owning a tech-based startup recognized by UAE authorities.
The Takeaway: Don't Believe Everything You Read
This whole episode serves as a reminder to always double-check information, especially in the fast-moving world of crypto. Rely on official sources and be wary of hype. While the idea of staking crypto for residency might sound enticing, it's crucial to separate fact from fiction. In this case, the UAE regulators made it crystal clear: TON coin staking doesn't equal golden visa eligibility.
Final Thoughts
The saga of TON coin and the UAE golden visa serves as a cautionary tale. It's a classic case of
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
