The native cryptocurrency of the open network increased by 6% from the 24-hour level after the United Arab Emirates regulators rejected the claims that Staking Toncoin (TON) can create a path to the Zea residence.
Toncoin initially shot Up by 10% to USD 3.03 on Sunday, after an open network, the applicants putting Toncoin worth $ 100,000 for three years make candidates qualify for the Golden Visa program in the UAA.
However, the cryptocurrency partly regained after the Emirates Information Agency shared a joint statement of several regulatory bodies that refuse this claim.
The tone now has a trade of USD 2.84, which is a 6% decrease compared to the recently sent 24-hour level.
ZAA questions the claim of a golden visit
Tons claimed that the applicants who put a ton of $ 100,000 for three years and pay a one-off fee for processing in the amount of USD 35,000, will qualify for a 10-year gold visa.
Pave Durov, general director of the telegram, added to speculation by Reposting Announcement on X from Crypto Influencence Ash Crypto on Sunday, although he did not make an official commentary.
However, the Emirates Information Agency later informed on Monday that the Federal Office for Identity, Citizenship, Customs and Port Safety, Securities and Goods and the Administration Office for Resources Virtual Assets said that gold visas are not issued to digital assets.
They also explained that investments in digital currencies are subject to specific regulations and are not related to the qualifying for Golden Visa.
“The Office also confirmed that investments in digital currencies are subject to specific regulations and are not related to the qualifying to Golden Visa. He called investors to obtain information from reliable, official sources to avoid disinformation or fraud,” said Emirates agency.
Cointelegraph contacted the TON Foundation, President Manuel Stotz and general director Max Crown for comment.
Golden Visa eligibility
Golden Visa is a long -term residence visa introduced by the ZEA government in 2019 to attract qualified people to the region.
It allows foreigners to live, work and study in the United Arab Emirates without the need for a national sponsor, with visa times from five to 10 years, According to to the federal identity, citizenship, customs and port safety body.
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To qualify, users must meet severe criteria, such as having special skills, such as being a doctor, scientist or researcher.
Investors can receive a golden visa if they have public investments worth 2 million United Arab Emirates Dirham (USD 544,000) or more.
Entrepreneurs can also qualify if they are the owners of a registered startup recognized by the UAE authorities, which are based on technology.
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