TON Foundation Clarifies No UAE Golden Visa Agreement

The TON Foundation has recently addressed a controversy surrounding the UAE Visa Token, clarifying that there is no formal agreement with the UAE government regarding the Golden Visa program. The foundation emphasized that its collaboration with a licensed partner is purely exploratory, and that the offer of a "TON Golden Visa" was unofficial and not endorsed by any official channels.

The controversy began when the TON Foundation announced that staking $100,000 worth of TON tokens for three years, along with paying a one-time processing fee of $35,000, would get applicants a 10-year UAE Golden Visa. This claim, fueled by crypto influencers and even shared by Telegram CEO Pavel Durov, quickly went viral on social media. However, the UAE's Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), Securities and Commodities Authority (SCA), and Dubai Virtual Assets Regulatory Authority (VARA) jointly released a statement rejecting any relation between staking digital assets and eligibility for a Golden Visa.

The UAE authorities clarified that Golden Visas are only awarded through legal, government-approved channels such as investment in real estate, establishing a business, or exceptional professional skill. They emphasized that investments in digital assets such as Toncoin are not covered by the Golden Visa program and are subject to separate, strict regulations. The authorities also stated that TON is not licensed or regulated by VARA, and any claim to the contrary is untrue. Investors were encouraged to only access residency details from official government sources and be wary of social media rumors.

Max Crown, CEO of TON Foundation, clarified that the UAE's Golden Visa project was misrepresented by partners and not officially recognized by the government. UAE’s regulatory bodies denied any such crypto-linked visa offerings. This statement sought to address public and industry concerns over potential misrepresentations. Changpeng Zhao, founder of Binance, pointed out financial discrepancies between what was promoted and actual practices. His feedback focused on safeguarding the industry’s reputation against mechanisms that might exploit investment trust.

The episode underscored the risks of aggressive marketing and misinformation in the crypto space. While the UAE has made advanced policies towards crypto, authorities emphasized that residency and immigration are tightly regulated and separate from digital asset investment. The fallout has also hurt TON's reputation, with some members accusing the foundation of misleading marketing and others making threats of reputational damage. The Toncoin Golden Visa scandal is a cautionary tale for investors and projects alike: in crypto, bold claims can rattle markets—but only until reality rears its head.