UAE shuts down rumors of TON’s Golden Visa offers.
The initiative was expected to give stakers of $100,000 TON for three years the visa.
If true, CZ was hoping to get BNB involved in the initiative as well.
The crypto market was excited to hear of RON’s UAE golden visa offering for TON stakers, hoping to claim a 10-year visa as a UAE resident. However, the relevant authorities of the UAE shuts down rumors of TON’s golden visa offering, confirming that this is not a qualification under UAE law, making TON’s proposal a simple dream, just as CZ stepped into the conversation to hopefully include BNB.
UAE Shuts Down Rumors
A few articles fueled by a post on X and an official page on Telegram’s Open Network (TON), highlight how TON was offering an interesting initiative. In detail, the initiative revealed a 10-year UAE Golden Visa to investors who stake $100,000 worth of TON tokens for three years. Despite the incredibly positive response from the crypto community, the UAE shuts down rumors almost immediately.
The official TON website page went on to explain how this new scheme was to work. The process of staking $100,000 worth of TON for three years in a transparent and verifiable fashion was expected to ensure that investors retain control of their funds throughout the lock-up period. In addition to the staking requirement, there was supposed to be a one-time government processing fee of $35,000.
https://twitter.com/esatoshiclub/status/1941970224107880893
However, this special UAE golden visa program by TON was immediately debunked by the relevant UAE authorities. As we can see from the post above, it is confirmed that UAE authorities deny reports that golden visas are available to crypto investors. To highlight, the ICP, SCA, and VARA made a joint statement confirming that digital asset investments are not part of the approved criteria for a 10-year UAE golden visa.
Presently, the list of approved criteria leans more towards drawing skilled professionals to the country. Moreover, only real estate investments of a certain value qualify individuals for a 10-year UAE golden visa. Perhaps the UAE will one day consider crypto investments as well, seeing as how the nation has been very pro-crypto. Did TON jump the gun on a big reveal, or are they testing the waters to reveal something more concrete in the future?
CZ's Hope to Include BNB
https://twitter.com/CryptooIndia/status/1941889964960256055
Based on responses from the crypto community and crypto leaders, like CZ’s response to TON’s program being that if the initiative had any merit, then he and Binance would’ve worked to get BNB involved as well. Binance having an office in the UAE shows promise in the country, and perhaps, given the positive response, the UAE will one day make crypto investments a criterion for its golden visa issuance.
