The TON Basis has denied claims that it has launched an official UAE Golden Visa initiative, clarifying that no formal partnership exists between the blockchain undertaking and the UAE authorities.
The clarification follows widespread social media reviews suggesting that digital asset traders might achieve UAE residency by way of staking TON tokens.
Over the weekend, TON promotions claimed people might safe a 10-year Golden Visa by staking $100,000 price of TON tokens and paying a $35,000 processing charge. This was framed as a extra accessible various to conventional routes that require actual property investments exceeding $500,000.
Nonetheless, UAE authorities swiftly refuted these claims. In a joint assertion launched July 7, the Federal Authority for Id, Citizenship, Customs and Port Safety (ICP), the Securities and Commodities Authority (SCA), and the Digital Property Regulatory Authority (VARA) denied any such initiative.
The ICP clarified that Golden Visas stay restricted to candidates who meet particular eligibility standards, resembling actual property traders, entrepreneurs, scientists, and distinctive skills, with digital asset holders not at present included.
The SCA added that digital property are regulated underneath a separate authorized construction unrelated to residency pathways, whereas VARA confirmed that TON isn’t licensed or licensed to function throughout the UAE’s regulatory framework.
In its July 7 assertion, TON defined that the initiative in query is an exploratory effort in collaboration with a licensed companion specializing in blockchain infrastructure and tokenized property, however is creating solely outdoors any formal association with UAE authorities entities.
Based on the assertion:
“No official Golden Visa program has launched in partnership with the federal government of the United Arab Emirates, nor has any governmental endorsement been granted to TON.”
TON emphasised that whereas the collaboration seeks to discover compliant, blockchain-based frameworks that would at some point help real-world residency pathways, it’s nonetheless in early growth. The assertion additionally emphasised that any visa software choices stay on the discretion of UAE authorities.
The announcement drew trade criticism for its preliminary advertising strategy. Binance founder Changpeng Zhao known as it “aggressive/deceptive advertising.”
TON mentioned it welcomed the UAE’s joint assertion, reaffirming its dedication to regulatory transparency and accountable growth. The inspiration added that any future official involvement in Golden Visa applications can be communicated transparently by way of the suitable channels.
The TON Basis continues to concentrate on integrating real-world property with digital infrastructure in its broader efforts to carry tokenized companies on-chain.