4 hours ago
The TON Foundation has denied claims that it has launched an authoritative UAE Golden Visa initiative, clarifying that nary ceremonial concern exists betwixt the blockchain task and the UAE government.
The clarification follows wide societal media reports suggesting that integer plus investors could summation UAE residency done staking TON tokens.
Over the weekend, TON promotions claimed individuals could unafraid a 10-year Golden Visa by staking $100,000 worthy of TON tokens and paying a $35,000 processing fee. This was framed arsenic a much accessible alternate to accepted routes that necessitate existent property investments exceeding $500,000.
However, UAE authorities swiftly refuted these claims. In a associated connection released July 7, the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) denied immoderate specified initiative.
The ICP clarified that Golden Visas stay constricted to applicants who conscionable circumstantial eligibility criteria, specified arsenic existent property investors, entrepreneurs, scientists, and exceptional talents, with integer plus holders not presently included.
The SCA added that virtual assets are regulated nether a abstracted ineligible operation unrelated to residency pathways, portion VARA confirmed that TON is not licensed oregon authorized to run wrong the UAE’s regulatory framework.
In its July 7 statement, TON explained that the inaugural successful question is an exploratory effort successful collaboration with a licensed spouse specializing successful blockchain infrastructure and tokenized assets, but is processing wholly extracurricular immoderate ceremonial statement with UAE authorities entities.
According to the statement:
“No authoritative Golden Visa programme has launched successful concern with the authorities of the United Arab Emirates, nor has immoderate governmental endorsement been granted to TON.”
TON emphasized that portion the collaboration seeks to research compliant, blockchain-based frameworks that could 1 time enactment real-world residency pathways, it is inactive successful aboriginal development. The connection besides emphasized that immoderate visa exertion decisions stay astatine the discretion of UAE authorities.
The announcement drew manufacture disapproval for its archetypal selling approach. Binance laminitis Changpeng Zhao called it “aggressive/misleading marketing.”
TON said it welcomed the UAE’s associated statement, reaffirming its committedness to regulatory transparency and liable development. The instauration added that immoderate aboriginal authoritative engagement successful Golden Visa programs would beryllium communicated transparently done the due channels.
The TON Foundation continues to absorption connected integrating real-world assets with integer infrastructure successful its broader efforts to bring tokenized services on-chain.
The station Ton Foundation clarifies misleading announcement regarding UAE aureate visa appeared archetypal connected CryptoSlate.
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