UAE authorities have firmly denied recent reports suggesting that crypto investors could secure a Golden Visa through a staking program tied to The Open Network’s native token, Toncoin (TON).
The denial comes after TON promoted an initiative claiming that participants who stake $100,000 worth of TON for three years, along with a $35,000 processing fee, could qualify for a 10-year UAE Golden Visa — a prestigious residency permit offered to select foreign nationals.
However, in a joint statement issued on Monday, the UAE’s Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Dubai Virtual Assets Regulatory Authority (VARA) refuted the validity of these claims.
Authorities Urge Caution
The agencies collectively warned the public against engaging with unverified offers circulated online. They emphasized that official residency programs are governed by clear, regulated frameworks and that crypto investments have no bearing on Golden Visa eligibility.
“The criteria for the UAE’s Golden Visa do not include cryptocurrency holdings or staking activities,” the ICP clarified. “Eligibility is restricted to specific categories including real estate investors, entrepreneurs, exceptional talents, scientists, top students, humanitarian pioneers, and frontline workers.”
The SCA added that digital asset investments are subject to their own regulatory guidelines, which are “entirely unrelated” to immigration or residency status.
Dubai’s VARA also distanced itself from the TON initiative, confirming that TON is neither licensed nor regulated by the authority. It reiterated its warning to investors to engage only with entities officially licensed to operate in the UAE.
High-Profile Reactions Stir Speculation
The buzz around the TON initiative gained momentum after it was reposted by prominent crypto voices, including Telegram CEO Pavel Durov. Former Binance CEO Changpeng “CZ” Zhao also commented on the offer, expressing skepticism but interest.
“I have not been able to verify with an official source yet,” CZ wrote on X (formerly Twitter). “This program would be awesome if it was true. If it is real, we will definitely try to get it on BNB too.”
Despite Durov’s retweet fueling further speculation, CZ added a note of caution: “I like to trust but verify. I’d expect something like this to have a government partnership and announcement.”
TON Token Volatility Follows Claims
Following TON’s initial announcement, its token surged 10% to $3.05 on Sunday, reflecting heightened market interest. However, the rally was short-lived. After the UAE authorities’ official rebuttal, TON dropped 6%, trading at approximately $2.83 at press time, according to CoinMarketCap.
Golden Visa Criteria Remain Unchanged
The UAE Golden Visa is a long-term residency permit aimed at attracting talent, investors, and exceptional individuals to the country. The visa typically offers 5- or 10-year residency, depending on the category, and requires public investments of at least AED 2 million (~$544,000), among other qualifications.
Authorities reaffirmed that any changes to Golden Visa eligibility would be communicated through official government channels only.
JUly 2025, Cryptoniteuae
