TON clarifies Golden Visa initiative

TON clarifies Golden Visa initiative

TON Foundation ( The Open Network) has issued a clarification regarding its UAE Golden Visa initiative, saying that the announcement was published prematurely and that the initiatives stems from a collaboration between TON and a licensed partner specialized in blockchain and tokenized assets and has nothing to do with UAE governmental entities.

As per the medium post, TON noted, ” With regards to premature announcement that circulated on X regarding a UAE Golden Visa initiative offered by TON. While we understand the community’s interest and enthusiasm, it’s necessary to provide clarity. The initiative in question stems from an independent collaboration between TON and a licensed partner specializing in blockchain infrastructure and tokenized assets. This exploratory effort is developing outside of any formal arrangement with the UAE government entities.”

TON assets that there are no official Golden Visa program launched in partnership with the government of the United Arab Emirates, nor has any governmental endorsement been granted to TON.

Collaboration with Blockchain entity for Golden Visa initiative is in early stages

TON explained that the collaboration is in the early stages of development and is part of a broader effort to explore how compliant, blockchain-based frameworks might eventually support real-world access to residency pathways.

TON assets that any offering would be subject to all applicable laws and regulations and that application alone does not guarantee visa issuance, the authority for which remains at the discretion of the relevant UAE government bodies.

TON Supports UAE government statement

In the post TON also expressed their support for the joint statement issued by by the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA), which confirms that no digital residency or investment visa initiatives have been formally approved or launched in partnership with the UAE government.

TON notes that this aligns with their position as the initiative is being developed independently by TON and their blockchain partner.

TON states, “We welcome the clarity provided and appreciate the UAE’s ongoing commitment to regulatory transparency. Should official involvement emerge in the future, it will be communicated transparently and through the appropriate channels.”

The clarification comes after TON spun out of Telegram, unveiled what it described as a new pathway to United Arab Emirates residency, offering 10-year golden visas to applicants who stake $100,000 worth of Toncoin for three years and pay a one-time $35,000 processing fee.

“Secure your Golden Visa in under 7 weeks from document submission to the Visa Office,” TON announced, detailing that its UAE-based partners will manage the visa processing and residency status confirmation.

However, the Emirates News Agency said later in a press release that the Federal Authority for Identity, Citizenship, Customs and Port Security, the Securities and Commodities Authority, and the Virtual Assets Regulatory Authority have issued a joint statement that golden visas are not issued to digital asset holders.

No Golden Visa with TON or any other crypto token

No Golden Visa with TON or any other crypto token

The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) have issued a joint statement denying reports circulating on certain websites and social media platforms that claim the UAE grants golden visas to investors in digital currencies.

The ICP clarified that golden visas are issued according to clear and officially approved frameworks and criteria, which do not include digital currency investors. Eligible categories include real estate investors, entrepreneurs, exceptional talents, scientists and specialists, top students and graduates, humanitarian pioneers, and frontline workers.

The SCA reaffirmed its commitment to internationally recognised standards in regulating the financial sector and securities services in the UAE. It stated that its procedures are designed to ensure transparency, credibility, and bolster investor confidence both locally and internationally, in line with the UAE’s strategic goals of attracting quality capital and fostering a sustainable investment environment.

The authority further confirmed that digital currency investments are governed by specific regulations and are unrelated to golden visa eligibility. It urged investors to obtain information from credible, official sources to avoid misinformation or fraud.

Similarly, VARA denied any claims regarding the issuance of golden visas to virtual asset investors in Dubai. It strongly urged investors and consumers to deal exclusively with fully licensed and regulated companies when engaging in services and investments related to virtual assets.

VARA reaffirmed its commitment to the highest standards of risk assurance and effective collaboration with the SCA and relevant federal and local law enforcement entities to maintain a secure operational environment that prioritises consumer protection at all times. It noted that companies licensed by VARA must strictly adhere to the visa procedures outlined by the Government of Dubai and the relevant federal authorities. It also clarified that the company TON is neither licensed nor regulated by VARA.

The three authorities collectively urged the public and investors to exercise caution and refer to official government websites and approved communication channels for accurate information. They warned against engaging with unverified advertisements or offers spreading online.

Toncoin (TON) had recently announced that users staking $100,000 worth of TON for over three years could make it to the UAE’s golden visa program. On the announcement their cryptocurrency surged 10% reaching $3.03 but then slipped 6% after the UAE dismissed teh assertions.

CZ, the Founder of Binance shared his thoughts on this noting that some believed TON only wanted to charge users $35000 to forward their application. He said, ” According to The Open Network, a three-year $100,000 TON stake and a single $35,000 processing fee would make applicants eligible for a 10-year UAE golden visa. ” He added that he felt the TON announcement didn’t specify enough, and the details they gave on the eligibility of a golden visa are pretty vague. He also claimed he had not verified the news with an official source yet, though some stated that the RAK (Ras Al Khaimah Emirate) DAO had approved.

On Durov’s repost on the announcement, CZ commented: “I am a supporter of Durov, especially given his current situation. But I like to ‘trust but verify’. I’d expect something like this to have a government partnership and announcement. It might still be true, just saying I haven’t been able to verify.”

Telegram CEO Pavel Durov reposted the TON announcement from crypto influencer Ash Crypto on X on Sunday. While he didn’t comment directly, his post made some believe the claims were credible.