TON Foundation Denies UAE Backing for Golden Visa
The TON Foundation has denied that its Golden Visa program enjoys any backing from the UAE government. The foundation clarified that this private initiative is not part of official state schemes.
Announced by TON Space, the project invited Web3 ambassadors to stake TON tokens and pay advisory fees for a fast-track to a Golden Visa. The foundation later stressed it is an exploratory service without visa approval guarantees.
UAE regulators ICP, SCA and VARA confirmed digital asset investments do not qualify for Golden Visas and noted TON is not regulated by VARA. This clarification aims to curb misinformation and protect investor confidence in Toncoin.
Crypto traders should differentiate private initiatives from official schemes. Watch for further updates from UAE authorities and monitor TON market response for trading opportunities.
Bearish
The clarification removes visa-based investment incentives that had driven TON’s price higher, deflating speculative demand. In the short term, traders may sell positions as the hype subsides, leading to downward pressure. Long-term impact is likely neutral absent other bullish catalysts, but the lack of government support undermines confidence. Overall, this news is bearish for TON.