Toncoin UAE Golden Visa Claim Creates Buzz, Faces Denial

10-year Toncoin UAE Golden Visa Plan Raises Investor Concerns

TON’S bold residency offer sparks interest

TON, an open network blockchain platform which is originally linked to Telegram has recently announced a program, promising a 10-year Toncoin UAE golden visa for the users attacking $100,000 in Tocoin for three years and a $35,000 processing fee. 

Source: X

The initiative is promoted as a fast-track to residency in under seven weeks which is aimed to attract digital currency enthusiasts. 

The allure of living and working in the nation is a growing hub for blockchain innovation. 

Authorities swiftly deny partnership 

The excitement was short-lived as the Emirates News Agency(WAM) issued a statement debunking TON’s claims. 

Source : WAM

The Federal authority for identity, citizenship, Customs and Port Securities (ICP), Securities Commodities Authority(SCA) and Virtual Assets Regulatory Authority(VARA) has clarified that Toncoin UAE Golden visa is not granted for crypto currency investors.

The authorities emphasized that warrant eligibility follows strict regulations which are unrelated to digital currency investments, urging the public to rely on official sources to avoid misinformation. 

TON’s Unregulated status raises concerns 

VARA confirmed that the visa is neither licensed nor regulated by the authority. This revelation cast doubt on the legitimacy of Toncoin Golden visa program. 

It is claimed to use decentralized smart contracts to secure stacked assets while offering 3-4% annual yields. 

The lack of regulatory oversight has highlighted the potential risks for investors, prompting warnings about engaging only with fully licensed entities for virtual asset investments. 

Investors caution urged amid misleading claims

The UAE’s firm stance underscores its commitment to transparency and users security in the fast evolving digital space. 

Authorities emphasized  that digital asset spendings are controlled by particular regulations and have no connection to the Toncoin UAE Golden visa structure. 

The incident serves as a calling for the  users to cross-check their claims through channels having credibility, especially as the country carries to grow its reputation as a blockchain-friendly target with clear regulatory boundaries. 

Effect on TON price

The launch of 10-year Toncoin UAE Golden visa offer can spark  short-term hype, boosting TON’s price and inspiring other digital currency residency models. 

Although the swiftness of country's denial has highlighted regulatory risks which might trigger tighter security on digital currencies tied to real-world benefits. 

The speculative interest may spill over to similar tokens; the long-term impact depends on real partnerships and legal clarity. 

Without it, the wider crypto market may see only a temporary buzz. 

Why one should choose Toncoin UAE Golden visa

Choosing Toncoin UAE Golden visa can provide the users following benefits which will help them to understand it in a better way-

• It provides you Fast approval which helps in securing investors Toncoin UAE Golden visa in around 7 weeks. 

• It follows a simple procedure with a 10-year validity, selection is based on merit and selective candidates have to go through a highly selective process. 

• Investors can include their family members like spouse, children, parents can receive the warrant with no extra cost. 

• The users will get the capital efficiency that means there will not be any kind of deduction from the assets. 

• You can earn an estimated 3-4% APY during the time period of three years. 

• It is totally decentralised and has full security. 

Conclusion 

The denial of Toncoin UAE Golden visa program showcases the importance of regulatory clarity in the world of crypto. While TON’s is aiming to bridge digital assets with real-world benefits. 

This episode emphasizes the need for clarity and adherence to established guidelines to secure users and maintain their trust.