UAE Shocks Crypto Investors- UAE Warns Investors Against False Golden Visa Offers for Digital Assets
The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), Securities and Commodities Authority (SCA), and Virtual Assets Regulatory Authority (VARA) jointly refuted recent claims circulating on websites and social media that the UAE issues golden visas to investors in digital currencies.
Clear Visa Criteria Exclude Digital Currency Investors
ICP emphasized that golden visas are granted strictly according to official frameworks and criteria, which do not include investors in digital currencies. Eligible candidates consist of real estate investors, entrepreneurs, exceptional talents, scientists, top students and graduates, humanitarian pioneers, and frontline workers.
SCA Highlights Transparency and Regulatory Standards
The Securities and Commodities Authority reiterated its dedication to internationally recognized standards in regulating the UAE’s financial and securities sectors. Its procedures are designed to enhance transparency and investor confidence, aligning with the UAE’s goals to attract quality capital and foster sustainable investment environments. SCA confirmed that digital currency investments fall under specific regulations and are not connected to golden visa eligibility. It urged investors to seek information from official sources to avoid misinformation.
VARA Warns Against Unlicensed Virtual Asset Companies
Similarly, the Virtual Assets Regulatory Authority dismissed any rumors about issuing golden visas to virtual asset investors in Dubai. VARA strongly recommended that investors and consumers engage only with fully licensed and regulated companies for virtual asset services. The authority reaffirmed its commitment to high standards of risk management and collaboration with SCA and law enforcement agencies to maintain a secure environment prioritizing consumer protection.
VARA also clarified that licensed companies must follow visa procedures set by Dubai’s government and federal authorities, and explicitly stated that the company TON is neither licensed nor regulated by VARA.
Authorities Urge Caution and Official Information Sources
Together, ICP, SCA, and VARA warned the public to be cautious about unverified online advertisements and urged reliance on official government websites and approved communication channels for accurate updates. They emphasized the importance of verifying information to avoid scams or false claims.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
