The TON Foundation has released a statement clarifying its role in a program that could lead to legal residency in the UAE after conflicting reports appeared.
Development of the Golden Visa Program
In a Monday blog post, the TON Foundation announced that it was in the 'early stages of development' with a licensed partner to explore the creation of a UAE Golden Visa. However, they emphasized that any authority for the program rests entirely with the UAE government entities and is subject to applicable laws and regulations.
Denial of Official Government Partnership
The TON Foundation clearly stated: 'To clarify, no official Golden Visa program has launched in partnership with the government of the United Arab Emirates, nor has any governmental endorsement been granted to TON.'
Response from UAE Authorities
These clarifications came less than 48 hours after TON announced its intention to offer 10-year golden visas for the UAE. This announcement prompted a quick response from the UAE’s Federal Authority for Identity, Citizenship, Customs and Port Security, the Securities and Commodities Authority, and the Virtual Assets Regulatory Authority, who published a joint statement clarifying that the visas were not being issued to digital asset holders.
In conclusion, the TON Foundation has clearly outlined its position regarding the UAE Golden Visa and the importance of adhering to the laws and regulations set by local authorities.
