TON Foundation Clarifies Misleading Claims on UAE Golden Visa Initiative
Recently, the TON Foundation confronted rumors alleging that it had initiated an official Golden Visa program in the United Arab Emirates (UAE). Amid rising social media chatter claiming that investors could obtain UAE residency by staking TON tokens, the foundation swiftly clarified that no formal partnership exists with the UAE government regarding this matter. This clarification is vital in maintaining transparency, especially as the promotion of this supposed initiative had garnered considerable interest from digital asset investors.
Over the past weekend, multiple promotions circulated, suggesting that individuals could secure a coveted 10-year Golden Visa by staking $100,000 worth of TON tokens, along with a $35,000 processing fee. This was marketed as a more accessible alternative to traditional residency pathways, which generally necessitate real estate investments exceeding $500,000. However, UAE authorities acted quickly to refute these claims.
In a joint statement on July 7, key regulatory bodies—including the Federal Authority for Identity and Citizenship (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA)—denied the existence of this initiative. The ICP made it clear that the Golden Visa program is strictly reserved for applicants who meet specific criteria, such as real estate investors, entrepreneurs, scientists, and individuals with extraordinary talent. Digital asset holders do not currently fall within these parameters.
Adding to this clarification, the SCA indicated that virtual assets are regulated under a distinct legal framework, separate from residency options. Furthermore, VARA confirmed that TON is not authorized to operate within the UAE’s regulatory environment. In response to the widespread misinformation, TON issued a statement explaining that the initiative in question is more exploratory than definitive. They are working with a licensed partner specializing in blockchain infrastructure and tokenized assets, but any development is separate from any formal agreements with UAE governmental entities.
TON explicitly stated: "No official Golden Visa program has launched in partnership with the government of the United Arab Emirates, nor has any governmental endorsement been granted to TON." This sharp clarification underscores the importance of regulatory compliance and the need for accurate communication in the rapidly evolving world of digital assets.
The announcement from the TON Foundation drew attention from various industry leaders, including Binance founder Changpeng Zhao, who characterized the initial marketing approach as "aggressive/misleading." Emphasizing the need for transparency, TON welcomed the UAE authorities’ joint statement and confirmed its commitment to regulatory standards and responsible development. The foundation reassured stakeholders that any future official endeavors related to Golden Visa programs would be communicated transparently through reliable channels.
As the TON Foundation continues to explore the integration of real-world assets with digital infrastructure, they are focused on delivering tokenized services on-chain. This commitment aligns with the broader ambition to develop compliant frameworks that could eventually translate into viable residency pathways in the future. For now, the foundation remains dedicated to working within the confines of existing regulations while driving innovation in the blockchain space.
In summary, the TON Foundation firmly denies claims regarding a Golden Visa initiative in the UAE. Their proactive stance serves as a reminder to both investors and stakeholders about the necessity of adhering to regulations, especially in a field as dynamic as digital assets. Moving forward, the foundation aims to continue its efforts in responsible development, encouraging a more comprehensive understanding of the regulations governing blockchain technologies.
