A recent announcement by the TON Foundation regarding a 'Golden Visa' program in the United Arab Emirates (UAE) has sparked considerable interest in the crypto community. However, a swift denial from local regulators highlights the critical need for compliance with legal norms.
Announcement of the 'Golden Visa' and its Consequences
The TON Foundation announced the 'Golden Visa' program, which purported to offer visas for Toncoin holders through a staking program. However, the next day, several UAE regulators promptly denied the news, stating that visas are not issued to digital asset holders. The statement also emphasized that the company behind TON is neither licensed nor regulated.
Expert Opinions on Legal Matters
The legal community strongly advises conducting thorough legal assessments for any announcements in the crypto industry. Irina Heaver, founder of NeosLegal, noted that even with local government officials' support, crypto deals must be promoted in full accordance with the law. Proper legal assessment can help avoid misunderstandings and fines.
Community Reaction and Criticism
Despite the initial excitement generated by the announcement, the rapid response from regulators resulted in a significant decline in interest in the program. Former Binance CEO Changpeng Zhao also expressed doubts about the credibility of the announcement, urging the community to verify sources of information.
The incident surrounding TON's 'Golden Visa' in the UAE underscores the importance of legal review before launching initiatives in the fast-moving and complex context of the crypto industry.
