TON Backtracks on UAE Golden Visa Proposal After Government Denial
The TON Foundation has retracted its premature announcement of a UAE Golden Visa program linked to Toncoin staking. Initial claims suggested holders could secure residency by locking $100,000 for three years plus a $35,000 fee—a proposition amplified by Telegram CEO Pavel Durov before being swiftly denied by UAE regulators.
Authorities including the SCA and VARA confirmed no such crypto-linked visa program exists. TON now acknowledges the initiative remains in exploratory talks with private entities, lacking governmental endorsement. The episode underscores the regulatory tightrope blockchain projects navigate when promoting unapproved schemes in jurisdictions like the UAE, where Golden Visas traditionally target conventional investors and professionals.
