The United Arab Emirates (UAE) has officially denied claims that individuals can obtain its prestigious Golden Visa by staking Toncoin, a cryptocurrency native to the Telegram Open Network (TON) ecosystem.
Official Denial from UAE Authorities
On Monday, July 7, 2025, three key government bodies—the Federal Authority for Identity, Citizenship, Customs and Port Security, the Securities and Commodities Authority (SCA), and Dubai’s Virtual Assets Regulatory Authority (VARA)—issued a joint statement refuting the news.
The agencies clarified that no such investment pathway exists through Toncoin or any digital currency. VARA explicitly emphasized that Toncoin is not licensed or regulated in Dubai, further discrediting circulating reports.
The TON Foundation’s Claim
Over the weekend, Max Crown, CEO of the TON Foundation, sparked confusion by announcing on social media that staking $100,000 worth of Toncoin for three years—along with a $35,000 one-time processing fee—would make investors eligible for the UAE’s 10-year Golden Visa.
The statement quickly went viral, and Toncoin (TON) surged 12%, trading as high as $2.90 at one point.
No Legal Framework for Crypto-Based Residency
The Federal Identity Authority (ICP) reaffirmed that the current Golden Visa eligibility framework does not recognize digital asset investments as a valid route. These long-term visas are typically granted to individuals meeting specific criteria in fields like science, entrepreneurship, culture, and real estate.
Despite growing crypto adoption across the UAE, official channels have not yet included staking or token investments as qualifying contributions for residency.
TON’s Rapid Rise and Regulatory Limits
While the TON blockchain—which originated from Telegram and has grown rapidly—has seen increased activity and interest, the lack of regulatory approval in the UAE restricts its use for formal immigration or investment programs.
The situation mirrors an earlier miscommunication in May 2025, when Telegram founder Pavel Durov claimed a partnership with Elon Musk’s xAI, only for Musk to later clarify that no agreement had been finalized.
Conclusion
The UAE’s swift response serves as a reminder that crypto investment announcements must be verified through official channels. Despite Toncoin’s price spike, staking TON does not grant access to the Golden Visa, and investors should remain cautious of unverified claims in the rapidly evolving digital asset space.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.