The TON Foundation issued a statement clarifying that its Golden Visa blockchain initiative is not government-backed and is still in exploratory phases.
Clarification by TON Foundation
The TON Foundation released an official statement distancing itself from claims that the recently discussed Golden Visa blockchain initiative is officially endorsed by the government of the United Arab Emirates. The foundation emphasized that the initiative is independent and not affiliated with any UAE visa programs.
Reasons for Misunderstanding
The misunderstanding stemmed from a report circulating on social media suggesting that Toncoin holders could obtain long-term UAE residency by staking cryptocurrency. The foundation clarified that this initiative is in early development stages, and no formal agreements have been made.
Future of the Initiative
The TON Foundation highlights that the digital residency strategy is still under exploration and that applications made under this pilot project do not guarantee visa issuance. Visa authority remains exclusively with UAE governmental bodies, and the foundation expressed gratitude to the UAE authorities for regulatory transparency.
The TON Foundation made clear that its Golden Visa initiative does not have official support from the UAE government and underscores the importance of regulatory compliance in blockchain technology.
