UAE quashes reports claiming grant of Golden Visa to cryptocurrency investors

The United Arab Emirates has denied reports claiming that the country grants golden visas to investors in digital currencies. The clarification over the matter comes after reports circulated on certain websites claiming that golden visas were issued to cryptocurrency 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) have issued a joint statement and clarified that there are criteria and a framework involved when it comes to issuing such visas.