Ton Foundation scribbles back: no gold visa via VAE government

The Ton Foundation has clarified that the VAE government plays no role in its 10-year Golden Visa initiative. The statement follows confusion about an alleged cooperation with the government, which has since been publicly denied.

Not an official gold visa program

In a blog post, which replaces the earlier promotion page, the Ton Foundation says the following: “To make it clear: no official Golden Visum program has been launched in collaboration with the government of the United Arab Emirates, nor has the VAE government granted any form of approval to Ton.”

According to the foundation, the program is an independent collaboration with an unnamed, licensed partner “specialized in blockchain infrastructure and Tokenized Assets.” The VAE government has no direct involvement in this initiative, Ton emphasizes again.

Visa not guaranteed, despite considerable investment

The statement follows after VAE government agencies publicly denied being involved in the initiative. The program offered investors the opportunity to apply for a Golden Visa by paying an application allowance of $ 35,000 and fixing $ 100,000 to Toncoin for three years.

The Ton Foundation now states that only submitting an application does not mean that a visa is actually issued: “Only submitting an application does not guarantee that a visa is actually issued; that authority is entirely with the relevant government agencies of the VAE.”

This new explanation seems to be at odds with the earlier communication on the Ton website, where an accelerated approval was discussed within seven weeks.

Change Zhao: “This is misleading”

Former Binance CEO Changpeng Zhao was one of the first to criticize the campaign. In a clear message, he writes: “There is a big difference between $ 35,000 + $ 100,000 to get a gold visa, only submit a request.”

According to Zhao, this form of communication is harmful to the crypto system and causes unnecessary volatility in the price of Ton. With this clarification, the Ton Foundation tries to somewhat restore violent trust. Nevertheless, there are still questions about the transparency and design of the visa initiative.