The Open Network (TON) Foundation’s golden visa slip-up in the United Arab Emirates (UAE) highlights the need for legal compliance and proper review, a local lawyer said.

A premature announcement about TON’s UAE golden visa aimed to benefit the community but ran into complex local crypto rules, according to NeosLegal founder Irina Heaver.

With five regulators overseeing crypto asset service providers’ (CASP) activity in the UAE and strict marketing rules by Dubai’s Virtual Assets Regulatory Authority (VARA), ensuring local compliance requires proper legal assessment.

“Even with support from local government officials, you still must promote crypto deals in full alignment with the federal and local laws,” Heaver told Cointelegraph, adding that CASP-regulated activities like staking and token-related offers require specific attention.

TON’s Golden Visa incident: the timeline of events

The TON Foundation announced a program on Saturday, a Toncoin (TON) staking opportunity that claimed to offer golden visas for holders to enter the UAE.

A group of UAE regulators promptly denied the news on Sunday, issuing a joint statement that golden visas are not issued to digital asset holders. VARA highlighted that the company behind TON was neither licensed nor regulated by the agency.

In the now-deleted announcement, TON said it was offering to secure a “10-year Golden Visa with a one-time $35,000 processing fee” in addition to staking $100,000 in Toncoin for three years.

The foundation has since clarified that the announcement was premature and that it is working with a licensed partner independently. The company did not immediately respond to requests for comment.

Telegram CEO Pavel Durov had amplified the post by retweeting crypto influencer Ash Crypto’s claim that “TON has just partnered with the UAE,” though Durov deleted the tweet a day later.

“TON has just partnered with the UAE to offer a 10-year Golden Visa to TON stakers,” said the now-deleted X post by Ash Crypto, which was retweeted by Durov.

The retweeted post was live until Monday at 1:00 pm UTC at least, and then deleted by Durov. The original post remained live on Ash Crypto as of Tuesday at 10:00 am UTC.

Early warnings from CZ

Some prominent figures in the crypto community, including former Binance CEO Changpeng Zhao, were quick to question the credibility of TON’s announcement.

“Is this real?” CZ asked X in response to the announcement. “It would be awesome IF it is true. But I got conflicting info so far,” he said on Saturday.

CZ specifically referred to the lack of official information from government authorities related to the program, calling on the community to verify sources, no matter how reputable they are.

Related: Pavel Durov warns France is experiencing societal collapse

Despite early warnings, TON’s golden visa announcement generated significant excitement within the community, prompting a sharp price rally on Saturday, followed by a sell-off after UAE authorities denied involvement.

Legal reviews “can save millions of fines”

Despite the initial enthusiasm, the UAE’s swift denial turned the TON announcement into a cautionary tale. Legal experts said it’s a reminder that hype-driven announcements in the crypto space can backfire when not properly vetted.

“In a fast-moving space like ours, it’s tempting to prioritize hype and own Twitter feed for a day, but in the UAE, the laws are already well-established,” Heaver said.

“It takes a knowledgeable crypto lawyer just two to three hours to review marketing materials and flag potential issues, and that quick check can save weeks of regulatory headaches and millions of dirhams in fines,” she said, adding:

“It’s a reminder that legal review isn’t a blocker — it’s a builder of sustainable growth.”

VARA declined to comment any further on the incident to Cointelegraph, referring to the joint announcement posted on Sunday.

Magazine: Dogecoin set for rebound? Ripple eyes US banking license: Hodler’s Digest, June 29 – July 5

]]> https://earlybirdsinvest.com/tons-uae-golden-visa-mishap-shows-why-legal-reviews-matter/feed/ 0 46446 https://earlybirdsinvest.com/fannie-mae-and-freddie-mac-told-to-consider-crypto-in-mortgage-reviews/ https://earlybirdsinvest.com/fannie-mae-and-freddie-mac-told-to-consider-crypto-in-mortgage-reviews/#respond Sun, 29 Jun 2025 17:23:06 +0000 https://earlybirdsinvest.com/fannie-mae-and-freddie-mac-told-to-consider-crypto-in-mortgage-reviews/

Fannie Mae and Freddie Mac have been directed to look into how cryptocurrency might be included when evaluating mortgage applications.

The instruction came from the Federal Housing Finance Agency (FHFA), which oversees both institutions.

In a letter sent on June 25 and later shared on X, FHFA Director William J. Pulte asked the two firms to come up with a proposal for counting certain digital assets as part of a borrower’s reserves. These reserves are used to help measure a person’s ability to repay a mortgage.

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Under this plan, applicants would not have to convert their crypto into US dollars for it to be considered.

Currently, most mortgage providers only accept reserves in traditional cash or easily sold assets. Crypto usually does not qualify unless it has already been exchanged for dollars. Pulte stated that the idea is to assess crypto directly, as long as it meets specific conditions.

According to the letter, only cryptocurrencies stored on US-regulated centralized exchanges will be eligible. These platforms must comply with all relevant laws, and the crypto must be verifiable. Digital assets kept in personal wallets or on overseas exchanges will not be included.

Pulte stated that this decision follows careful study and fits with President Donald Trump’s goal of boosting the country’s position in the global crypto industry. However, the FHFA is not making an immediate policy change.

Meanwhile, Samson Mow, the founder of Jan3, announced plans to expand Bitcoin
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adoption at the national level across Europe. What did he say? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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  XRP Ledger (XRPL): An Overview of Its Benefits and Functions

 The XRP Ledger (XRPL) is a decentralized and distributed ledger technology that is used for a variety of applications. It is an open-source, permissionless, and secure platform that enables users to create and process transactions without the need for a centralized authority. The XRPL has been designed to provide a number of benefits, such as scalability, low transaction costs, and fast transaction speeds. In this article, we will take a look at the various features and benefits of the XRPL.

XRP Ledger (XRPL) coin price

It a highly secure system that functions without the need for a centralized database, governing body or a central administrator.
The XRP Ledger enables direct transfer of value from one account to another without an intermediary. It uses a consensus-based mechanism to order transactions and prevent double spending. The network is open source and anyone can join, send funds and develop applications on the XRP Ledger.
The native coin of XRPL is called XRP and it is used to pay transaction fees on the network. There is a limited supply of XRP, but only around half have been issued so far. The remaining coins are held in escrow by Ripple, the company behind the project. This means that Ripple has control over the supply of XRP and can decide when to release or burn them.
XRP can be used to facilitate payments between two parties in any currency, including fiat and cryptocurrencies. It can be used to transfer value between individuals or businesses and can even be used to settle cross-border payments in real-time. As XRP is a digital asset, it can also be used as a bridge asset to exchange different cryptocurrencies quickly and at lower cost than doing it via traditional methods.
XRP Ledger (XRPL) where to buy-trade
Popular cryptocurrency exchange;
And so on....
Note: Cryptocurrency is high invest risk, invest only as much as you are ready to lose.

Cardano ADA Price Predictions for 2023

Blog Introduction: Cardano (ADA) is a blockchain project that has been gaining traction in the crypto space since its launch in 2017. With a market cap of over 11 billion USD, it’s one of the biggest players in the cryptocurrency industry. The question many people have on their minds is, what will be the price of Cardano by 2023? In this blog post, we take a look at some of the factors that are likely to affect the price of Cardano in 2023 and make some predictions about where the price may go.

Current Market Sentiment & Development Progress

The current sentiment towards cryptocurrency markets is largely positive and that means good things for Cardano. Since its launch, Cardano has made significant progress on its development roadmap with new features being added regularly. This includes staking, smart contracts, and more recently, decentralized finance (DeFi). This ongoing work is likely to have a positive effect on ADA prices as more and more people become aware of it and start using it.

Institutional Adoption

Institutional adoption is one of the most important factors driving up prices in the crypto space right now. More institutional investors are entering the market every day as they realize that cryptocurrencies offer an attractive investment opportunity compared to traditional assets like stocks and bonds. As institutional investors realize how much potential there is in cryptocurrencies like Cardano, they are likely to invest heavily in it, driving up its value over time.

Supply & Demand

The amount of ADA available on exchanges also plays an important role when predicting future prices. If demand exceeds supply then prices will rise as buyers compete to get their hands on available coins or tokens. On the other hand, if supply exceeds demand then prices may go down as sellers try to offload their holdings at lower prices than before. By keeping an eye on supply and demand metrics for ADA we can get an idea of where prices might be headed next year or beyond.

Conclusion:

Overall, there’s no guarantee what will happen with Cardano’s price by 2023 but if current market trends continue then it’s likely that we will see a substantial increase from today’s levels. With institutional investors showing increasing interest in cryptocurrencies like Cardano and ongoing development progress being made by its team, there’s good reason to expect positive growth over time. Cryptocurrency traders should keep an eye on market sentiment, institutional adoption levels, and supply/demand metrics if they want to maximize their profits when investing in Cardano ADA tokens moving forward into 2023 and beyond!

 Cryptocurrency investors and traders:  

The most important distinction between cryptocurrency investors and traders is the type of analysis undertaken by both groups. Since investors take a long-term bet on the value of a coin, fundamentals is a core component in evaluating the viability and potential of a coin. By doing your research and keeping an eye out for any news or developments related to cryptocurrency Cardano ADA tokens, you can make better decisions when trading and be better prepared for what the future holds. 

Products, including the Bitcoin and cryptocurrency trading platform,  enhanced security, variety of services, and high market liquidity. The team applies every effort to make your trading on the platform as convenient and safe as possible.

These are just some that are popular at the moment, as you know cryptocurrency is a big risk  investment. Invest only as much as you are ready to lose. 

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