The foundation behind Open Network (TON) issued a statement clarifying its role in a program that could lead to legal residence in the United Arab Emirates (UAE) after reports of conflict over the weekend.
In a Monday blog post, Ton Foundation explain It is in the “early stages of development” and explores the creation of the UAE Golden Visa with licensed partners. The panel added that any powers under the scheme relied entirely on UAE government entities and were subject to applicable laws and regulations.
“To clarify, there is no official Golden Visa Program launched in cooperation with the United Arab Emirates government and no government recognition has been granted,” the foundation said.
Less than 48 hours after the blog post was published Say it will provide 10-year golden visa for the UAE. The announcement prompted UAE federal agencies to respond quickly to identity, citizenship, customs and port security, the Securities and Commodity Authority, and virtual asset regulators, which issued a joint statement clarifying that the visas were not issued to digital asset holders.
Related: Tons of coins fell 6% after UAE authorities rejected golden visa requirements
Cryptocurrency figures, such as former Binance CEO Changpeng “CZ” Zhao Questioning legality Before Ton’s Monday blog post, the UAE’s Golden Visa Program. The story may have also attracted attention after Telegram CEO Pavel Durov retweeted X posts, which contained details of the program. At the time of publication, Durov’s position still existed.
It is unclear whether Ton Foundation can coordinate its efforts with the UAE government in the future. It uses $100,000 tokens to offer a gold visa (ton) can be much cheaper through official channels, usually requiring at least $540,000 in liquid assets.
https://www.youtube.com/watch?v=jzncalgknio
The Attraction of “Gold Medal” and Gold Visa to Crypto Investors
Other countries provide avenues to reside through massive investments, although not always with cryptocurrencies like Bitcoin (BTC). In Portugal, investors Holding over $500,000 In Crypto, citizenship can be obtained through the country’s Golden Residence License Program, a five-year residence program for non-EU nationals.
In the U.S., President Donald Trump announced a “gold card” program in February that allows investors to be willing to pay $5 million or more for the country’s legal residence rights. According to U.S. Secretary of Commerce Howard Lutnick, about 70,000 people signed the plan as of June 17.
Magazine: Move to Portugal to become an encrypted digital nomad – everyone else is
