Latest news with #MaxCrown
Business Recorder
08-07-2025
- Business
- Business Recorder
Dubai: No golden visa for digital currency investors
Dubai authorities announced Monday that golden visas are issued according to clear and officially approved frameworks and criteria, which do not include digital currency investors. The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) issued a joint statement denying reports it said have been circulating on certain websites and social media platforms that claim the UAE grants golden visas to investors in digital currencies. Content creators become focus, eligible for Dubai golden visa as city looks to attract 10,000 influencers The announcement came afte, Max Crown, CEO of the Ton Foundation, posted on X that 'Toncoin has just launched a groundbreaking initiative, offering TON holders the exclusive chance to secure a 10-year Golden visa' (for UAE) after 'staking $100K in $TON for 3 years', paying a one-time fee of $35,000 and unlocking funds after three years. However, the foundation later said in a blog post that the arrangement was part of a collaboration with an undisclosed partner 'specializing in blockchain infrastructure and tokenized assets' and acknowledged that the UAE government had no direct involvement in this. The ICP in its statement said eligible categories for the coveted visa include real estate investors, entrepreneurs, exceptional talents, scientists and specialists, top students and graduates, humanitarian pioneers, and frontline workers. Meanwhile the SCA said its procedures are designed to ensure transparency, credibility, and bolster investor confidence both locally and internationally, in line with the UAE's goals of attracting quality capital and fostering a sustainable investment environment. The authority further confirmed that digital currency investments are governed by specific regulations and are unrelated to golden visa eligibility. It urged investors to obtain information from credible, official sources to avoid misinformation or fraud. Why Pakistani actors should capitalise on Dubai golden visa, follow Saba Qamar and Humayun Saeed lead Similarly, VARA denied any claims regarding the issuance of golden visas to virtual asset investors in Dubai. It urged investors and consumers to deal exclusively with fully licensed and regulated companies when engaging in services and investments related to virtual assets. VARA also noted that companies it licenses must strictly adhere to the visa procedures outlined by the Government of Dubai and the relevant federal authorities. It also clarified that the company TON is neither licensed nor regulated by VARA. Dubai International Boat Show 2025 underway as Golden Visa announced for yacht-owners The three authorities urged the public and investors to exercise caution and refer to official government websites and approved communication channels for accurate information. They warned against engaging with unverified advertisements or offers spreading online.
Arab Times
07-07-2025
- Business
- Arab Times
No Golden Visa For Crypto: UAE Issues Official Warning
DUBAI, July 7: UAE authorities have firmly denied claims that investors in the cryptocurrency Toncoin are eligible for the country's prestigious Golden Visa. In an official joint statement, the Federal Authority for Identity and Citizenship, Customs and Ports Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) clarified that Golden Visas are issued based on well-defined and approved criteria. These criteria do not include investments in digital currencies. The Golden Visa — a long-term residency program — is granted to select categories, including real estate investors, entrepreneurs, exceptional talents, scientists and specialists, top-performing students and graduates, humanitarian pioneers, and frontline workers, according to the ICP. The clarification follows recent claims by Max Crown, CEO of the Ton Foundation, who stated on the social media platform X that holders of Toncoin could obtain a 10-year UAE Golden Visa by staking the cryptocurrency and paying a one-time fee of $35,000, subject to other conditions. However, VARA categorically stated that Toncoin is neither licensed nor regulated by the authority, and that any licensed company must follow Dubai's official visa procedures. The SCA warned investors and the public against misleading information, emphasizing that specific regulations govern digital asset investments and are not tied to Golden Visa eligibility. It urged individuals to rely only on licensed and regulated entities for financial dealings. All three authorities advised the public to verify information through official government websites or trusted communication channels and to avoid interacting with unauthorized promotions or advertisements circulating online.
UAE Moments
07-07-2025
- Business
- UAE Moments
UAE Shuts Down Golden Visa Rumors for Crypto Investors
The UAE has officially shut down the buzz claiming that cryptocurrency holders—specifically Toncoin investors —can score a Golden Visa just by staking digital assets. Over the weekend, Max Crown, CEO of the Ton Foundation, fired up social media by saying Toncoin holders could grab the UAE's 10-year Golden Visa for a $35,000 fee plus some crypto staking. But UAE authorities weren't having it. Here's What's Actually True The Federal Authority for Identity and Citizenship (ICP), Securities and Commodities Authority (SCA), and Dubai's Virtual Assets Regulatory Authority (VARA) released a joint statement saying this simply isn't true. Golden Visas are strictly reserved for specific groups like: Property investors Entrepreneurs Scientists and experts Outstanding students Humanitarian leaders Frontline workers Crypto investors? Not on the list. VARA Clears the Air on Toncoin VARA added that Toncoin isn't even licensed or regulated in Dubai. They reminded crypto companies to follow the proper government visa processes —no shortcuts, no workarounds. Public Advisory: Don't Fall for the Hype
Time of India
07-07-2025
- Business
- Time of India
UAE: Golden Visas for crypto investors? Authorities officially say ‘NO'
UAE authorities clarify that Golden Visas are not granted to cryptocurrency investors amid rising misinformation/ Image: File In response to growing misinformation circulating online, the United Arab Emirates (UAE) has officially clarified that Golden Visas are not being issued to cryptocurrency investors. The statement, made by three key national regulatory bodies, firmly denied claims suggesting otherwise. The joint clarification was released by the Federal Authority for Identity and Citizenship, Customs and Ports Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA). False Claims Spark Official Denial The statement was prompted by false reports on websites and social media platforms, which suggested that holders of virtual assets, particularly cryptocurrency, were eligible for the UAE's long-term Golden Residency visa. A specific claim drew attention after Max Crown, CEO of the Ton Foundation, tweeted on July 6 that Ton holders had 'the exclusive chance to secure a 10-year Golden Visa' after paying a one-time fee of $35,000, subject to other conditions. This assertion quickly spread online, leading to confusion among investors. Responding directly to these claims, VARA clarified that Ton is not licensed or regulated by the authority. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 月 OO원대 '실비보험' 최적가 비교가입! "月 보험료 낮추고, 보장은 실속있게"… 굿리치 [등록번호:제2006038313호)굿리치 보험대리점 (등록번호:제2006038313호] 가격 받기 Undo It also stated that any licensed 'company' must strictly adhere to visa procedures set by the Dubai government. VARA further confirmed that 'claims of granting golden residency to virtual asset investors in the Emirate of Dubai are false', and urged the public to interact only with licensed and regulated companies. Who Actually Qualifies for the UAE Golden Visa ? The ICP clarified that the long-term Golden Residency visa is available only to specific groups, such as: Real estate investors Entrepreneurs Outstanding talents Scientists and specialists Top students and graduates Humanitarian pioneers Frontline workers Superyacht Owners: Individuals with yachts of at least 40 meters Crypto investors or virtual asset holders are not included in the official list of eligible categories. Authorities Urge Caution and Verification The Securities and Commodities Authority (SCA) echoed the warnings, stating that digital currency investments are governed by strict regulations and that 'such investments are not linked to a Golden Visa.' The SCA emphasized the need for investors to rely on credible and official sources of information. All three authorities jointly advised the public to verify any information related to investment benefits and visa privileges directly from official government websites or approved channels. They also strongly cautioned against engaging with unreliable advertisements or offers found online. Finally, for accurate and up-to-date details about Golden Residency conditions, the public is encouraged to visit the ICP's official website.
Yahoo
06-07-2025
- Business
- Yahoo
TON Surges on UAE Golden Visa News; Crypto Community Reacts With Excitement and Doubt
On July 6, Max Crown, CEO of the TON Foundation, announced on X a "groundbreaking initiative" offering toncoin (TON) holders the "exclusive chance" to secure a 10-year UAE Golden Visa. The program requires applicants to stake $100,000 worth of toncoin for three years and pay a one-time processing fee of $35,000. After the three-year lock-up period, staked funds can apparently be unlocked, and during this time, applicants reportedly earn an estimated 3–4% annual percentage yield (APY) on their staked tokens. The TON Foundation's website highlights several key alleged benefits: fast approval within seven weeks from document submission, a simple process without the need to purchase real estate or meet income thresholds, and inclusion of family members — spouse, children, and parents — at no extra cost beyond standard government fees. The staking is conducted through decentralized smart contracts on the TON blockchain, which it argues ensures transparency and security. The program claims to offer a capital-efficient alternative to traditional UAE Golden Visa routes, which the TON Foundation says typically require a minimum investment of approximately $540,000 in real estate or fixed deposits, often tied to illiquid assets and longer processing times. The TON Golden Visa initiative is touted as a faster, more affordable, and digitally native pathway to UAE residency, aligning with the country's ambition to become a global crypto and Web3 hub. The announcement had an immediate impact on toncoin's market performance. Shortly after the news broke, toncoin's price surged by 12%. At the time of writing, the token trades around $2.8944, reflecting a 5.36% increase over the past 24 hours. Additionally, the current 24-hour average trading volume is approximately 251.54% higher than the 30-day average, signaling heightened market interest and activity, according to CoinDesk Research's technical analysis model. Despite the enthusiasm, the announcement has generated controversy within the crypto community. Bobby Ong, co-founder and COO of CoinGecko, praised the partnership as an 'amazing story' that could attract whales and provide strong buy support for toncoin, although he expressed hope that the initiative is not a temporary scheme. Conversely, "Joe HedgedHog" ("@JoeHedgedHog" on X), an investment partner at Sigil Fund, pointed out that this is not an official UAE government partnership but rather a third-party legal firm using TON as a proxy to assist clients applying for the Golden Visa under the entrepreneur category. He noted that the firm could have used any cryptocurrency and that the staking requirement serves more as a token utility sink than a government mandate. Further skepticism came from "ivangbi" ("@ivangbi_" on X), the Head of Strategy & Business Development at Gearbox Protocol, who described the announcement as misleading. According to this perspective, the legal firm receives the non-refundable $35,000 fee and attempts to submit applications to the UAE government, which ultimately decides on approval. He argued that the staked TON balance is only one of several requirements and may no longer be relevant under updated rules. He went on to say that the absence of blanket approval for TON stakers means that acceptance is uncertain, and the program may primarily serve as a marketing tool coupled with token utility. Changpeng Zhao (CZ), co-founder and former CEO of Binance, expressed cautious interest in the TON Foundation's UAE Golden Visa announcement but highlighted several uncertainties. He noted conflicting information about the program's legitimacy, including claims that the $35,000 fee mainly goes to a legal agent rather than the government, and that the website's language may misleadingly suggest a guaranteed visa upon staking $100,000 in toncoin. CZ also mentioned that theUAE regulators classify staking as a regulated activity for which TON may lack licenses. Importantly, he pointed out that official UAE government channels do not currently recognize staking toncoin as a visa qualification, listing the standard Golden Visa categories instead. In a follow-up post, CZ reiterated his cautious optimism, emphasizing the need to 'trust but verify.' He acknowledged the potential benefits of such a program but stressed that official government partnerships and announcements are essential for legitimacy—none of which have yet been confirmed. His stance balances support for innovation and TON founder Pavel Durov with prudent skepticism about the program's current status. The UAE entrepreneur visa category, which this program appears to target, is designed for individuals owning economic projects of a technical or innovative nature. Applicants must provide approval letters from an accredited UAE auditor confirming the project's value (at least 500,000 AED), local authorities verifying the project's innovative character, and an accredited UAE business incubator to establish the proposed activity in the country. Technical Analysis Highlights Price surged from $2.75 to a peak of $3.06, representing an overall range of $0.34 (12.4%). Rally began abruptly during the 7:00 hour on 6 July, when volume spiked to nearly 13 million. Extraordinary 57.5 million volume surge in the 8:00 hour propelled TON to its high. Support has formed around $2.86-$2.89 with high-volume buying. Resistance appears at $3.03, suggesting the token has established a new trading range. In the last 60 minutes from 6 July 15:12 to 16:11, TON experienced a significant price surge of 2.4%. Dramatic breakout occurred at 15:48 when volume spiked to 1.68 million tokens. Token reached a peak of $2.93 at 15:50 before establishing a new support level around $2.90-$2.91. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
