TON Promotes UAE Golden Visa Scheme, Faces Regulatory Rebuttal

A section appeared on the TON website outlining a guide on how to obtain a golden visa for the Emirates, which even Pavel Durov shared on his X account. This caused the price of TON to surge by 10%. However, within a day, the UAE authorities issued a statement refuting the news. The proposed offer involved depositing $100,000 in TON for a fixed three-year staking period, paying a one-time fee of $35,000 as a commission, and receiving a UAE Golden Visa after approximately seven weeks. The UAE regulators, including the Emirates News Agency, SCA, VARA, and ICP, clarified that TON is not licensed in the country, that staking does not qualify as an investment, and that the offer was not approved by the government. Following the official statements, TON's value dropped by 6%, and the project’s reputation was damaged. It appears that TON either hastily made aggressive claims or deliberately aimed to manipulate user perception and boost its price.