TON falls as UAE shuts down visa rumour
UAE authorities clarified golden visas are not linked to cryptocurrency investments, warning investors against misinformation.
TON coin dropped 6% after the United Arab Emirates dismissed claims about a new visa scheme. The authorities denied that staking $100,000 worth of TON for three years could qualify applicants for a 10-year golden visa.
The cryptocurrency briefly surged 10% after The Open Network announced the visa pathway, only to retreat following regulatory clarification.
Several UAE authorities jointly denied that golden visas are granted based on digital asset holdings. They emphasised that investments in cryptocurrencies fall under specific regulations and do not influence visa eligibility.
Investors were urged to rely on official sources to avoid misinformation.
Introduced in 2019, the UAE’s golden visa offers long-term residency to skilled professionals, investors with public investments exceeding 2 million dirhams ($544,000), and recognised tech entrepreneurs.
The programme enables foreign nationals to live, work, and study in the UAE without a national sponsor.
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