- Residency via crypto staking was announced by TON Foundation’s CEO.
- Offer lets users stake $100,000 in Toncoin for three years.
- TON’s price surged 10-12% post-announcement on the initiative.
Max Crown’s announcement emphasizes the program’s potential to broaden access to UAE residency. However, despite the significant interest, no direct endorsements from UAE authorities have been confirmed, raising regulatory questions.
The TON Foundation’s initiative ties UAE residency to crypto staking for the first time, requiring Toncoin (TON) investments. Participants are expected to stake $100,000 in TON, with a 3% to 4% annual yield. This approach marks a shift from traditional investment requirements.
The market reacted positively, with TON’s price rising by 10-12% and trading volumes increasing sharply. However, the lack of official regulatory support may pose challenges, highlighting potential risks for stakeholders. Ivangbi highlights major developments in crypto regulations that may influence future decisions.
Potential outcomes include increased demand for TON and questions about regulatory recognition and technological integration within UAE frameworks. Changpeng Zhao commented that official UAE licenses are typically needed for such initiatives, underscoring concerns.
Max Crown, CEO, TON Foundation, “announced on X a ‘groundbreaking initiative’ offering toncoin stakers a pathway to UAE residency.”
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