9 hours ago
Toncoin jumped 12% implicit the weekend, aft TON instauration made the Golden Visa announcement.
Updated Jul 7, 2025, 5:18 a.m. Published Jul 7, 2025, 4:23 a.m.
United Arab Emirates (UAE) authorities person sharply rebuffed reports of individuals being capable to get UAE's Golden Visa by staking Toncoin
.
The Federal Authority for Identity, Citizenship, Customs and Port Security, the Securities and Commodities Authority (SCA), and Dubai's crypto regulator Virtual Assets Regulatory Authority (VARA), issued a connection connected Monday denying immoderate specified arrangement.
ICP said that aureate visas frameworks inactive bash not see integer currency investors. VARA besides reiterated that TON is neither licensed nor regulated successful Dubai.
Over the weekend, Max Crown, CEO of the TON Foundation, which manages the Telegram-based crypto ecosystem, said connected X, that Toncoin holders tin present get UAE's overmuch sought aft Golden Visa by staking TON.
Crown added that applicants who involvement $100,000 worthy of toncoin for 3 years and wage a one-time processing interest of $35,000, tin present get a 10-year Golden Visa.
TON surged 12% aft the announcement jumping to astir $2.9.
In May, Telegram laminitis Pavel Durov said that the messaging level has partnered with Elon Musk's artificial quality firm, xAI. Soon after, Musk clarified that the woody was yet to beryllium signed.
Read more: TON Surges connected UAE Golden Visa News; Crypto Community Reacts With Excitement and Doubt
Parikshit Mishra
Parikshit Mishra is CoinDesk's Head of Asia, managing the editorial squad successful the region. Before joining CoinDesk, helium was the EMEA Editor astatine Acuris (Mergermarket), wherever helium dealt with copies related to backstage equity and the startup ecosystem. He has besides worked arsenic an Senior Analyst for CRISIL, covering the European markets and planetary economies. His astir notable tenure was with Reuters, wherever helium worked arsenic a analogous and an exertion for assorted teams. He does not person immoderate crypto holdings.
English (US) 