UAE authorities deny issuing 'golden visas' to crypto investors amid excitement around TON

UAE authorities released a joint statement denying reports that the country is issuing 'golden visas' to crypto investors, particularly related to the recently announced 'UAE Golden Visa' program, The Open Network (TON).

According to a press release published on Monday by the Emirates News Agency (WAM), the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) clarified that 'golden visas' are issued under a specific system that does not apply to digital currency investors.

The Prime Minister's Office noted that only 'real estate investors, entrepreneurs, exceptional talents, scholars and specialists, leading students and graduates, pioneers in humanitarian activities, and frontline workers' are eligible for the golden visa.