TON’s Golden Visa dream Crumbles Under UAE scrutiny
TON’s ambitious plan to offer a UAE golden visa through staking Toncoin hit a snag. UAE regulators swiftly denied any involvement, leaving the crypto community in a frenzy.
On July 5,a viral post claimed staking $100,000 in Toncoin could secure a 10-year UAE residency. This caught the attention of Binance’s Changpeng Zhao.Though, by July 6, UAE authorities issued a joint statement debunking the claim. They emphasized no such program exists.
The TON Foundation tried to clarify its role, calling the initiative “exploratory.” They mentioned working with a “licensed partner” but failed to provide details. This raised questions about compliance with UAE’s strict crypto regulations.
In a July 7 statement,the foundation admitted the project was in “early stages” and would follow all laws.Though, critics saw this as an admission of premature action.binance’s Zhao, initially intrigued, later dismissed it as “aggressive and misleading marketing.”
This incident highlights the crypto industry’s tendency to push into real-world applications without proper regulatory approval. Weather it leads to better vetting remains uncertain. For now, TON’s golden visa dream has turned to dust.
