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The TON Foundation has issued a clarification regarding its involvement in a potential UAE Golden Visa program, emphasizing the initiative remains independent without official government endorsement. This statement comes after conflicting reports surfaced over the weekend about cryptocurrency-based residency opportunities.
In a Monday blog post, the organization behind The Open Network blockchain stated it's in preliminary discussions with a licensed partner to explore creating a residency pathway. The foundation stressed that ultimate authority rests with UAE government entities, noting "no official program has launched in partnership with UAE authorities." This clarification follows the foundation's initial announcement about offering 10-year visas for those staking $100,000 in Toncoin (TON).
UAE regulators quickly responded to the original announcement, with three government agencies jointly denying any visa issuance to digital asset holders. The conflicting claims attracted skepticism from prominent crypto figures, including former Binance CEO Changpeng Zhao. Notably, Telegram CEO Pavel Durov's retweet of the initial announcement remains active despite the clarification.
The controversy highlights growing interest in cryptocurrency-linked residency options. Portugal's Golden Residence Permit Program similarly offers pathways for crypto investors, requiring 【$500,000】 holdings. Meanwhile, the U.S. has seen strong demand for its new "gold card" initiative, with ——70,000 applicants—— reportedly signing up since February despite the $5 million minimum investment threshold.
As the situation develops, industry observers note the TON Foundation's proposal could potentially offer a more accessible route compared to traditional investment visas, which often require 【$540,000】 in illiquid assets. However, the lack of official UAE backing raises questions about the initiative's viability and regulatory standing.