UAE Authorities Deny TON’s Golden Visa Claims

Key Takeaways

• Toncoin surged 10% before falling 6% after UAE regulators denied golden visa claims.
• Authorities stated that digital asset holdings are not linked to golden visa eligibility.
• The Open Network falsely claimed that staking $100K worth of TON for three years would grant a 10-year visa.
• Real eligibility is based on professional merit or AED 2M+ in public investments.

Toncoin’s Misleading Visa Announcement

Toncoin spiked 10% to reach $3.03 on Sunday after The Open Network released a now-disputed statement suggesting that staking $100,000 worth of TON for three years could qualify applicants for a 10-year UAE golden visa.

Source: X (@SanjayWeb3)

However, by Monday, the price had retraced to $2.84, a 6% drop from its 24-hour high, following an official statement from the Emirates News Agency refuting the claim.

Misleading Announcement Fuels Speculation

The Open Network’s original announcement included an offer that sounded too good to be true: stake $100,000 worth of TON for three years, pay a one-time $35,000 processing fee, and become eligible for a coveted 10-year UAE residency.

Even Telegram CEO Pavel Durov seemed to fuel the excitement by reposting the news on X, shared originally by crypto influencer Ash Crypto. However, Durov has not issued any formal statement confirming his support or involvement.

UAE Regulators Respond Swiftly

In response to the viral claims, the Emirates News Agency published a joint statement on July 7th from three major regulatory bodies:

• The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) 
• The Securities and Commodities Authority (SCA) 
• The Virtual Assets Regulatory Authority (VARA) 

The agencies made it clear: digital asset holdings do not provide eligibility for the UAE’s golden visa.

What Is The UAE Golden Visa?

A Program For Skilled Talent & Investors

The UAE’s golden visa program was introduced in 2019 to attract exceptional talent and long-term investment. It grants residency for up to 10 years and is designed for:

• Skilled professionals (scientists, doctors, engineers) 
• Investors with substantial capital 
• Entrepreneurs with UAE-recognized tech startups 
• Students with exceptional academic achievements 

Investment Requirements For Eligibility

To qualify through investment, applicants must demonstrate public investments valued at AED 2 million ($544,000 USD) or more. For entrepreneurs, the requirement is a registered, tech-based business approved by UAE authorities.

Crucially, the program is not linked to digital assets or crypto staking, as clarified by UAE regulators.

Toncoin Foundation Remains Silent

As of now, representatives from the TON Foundation, including President Manuel Stotz and CEO Max Crown, have not issued a public response to the UAE government’s rebuttal.

The misleading visa claim has now raised questions about transparency and accountability in how blockchain projects communicate benefits or partnerships.

Crypto Market Reactions

While Toncoin faced a 6% pullback, market analysts are closely watching whether the controversy will trigger further downside or if investor confidence will stabilize in the coming days.

Source: CoinGecko

The event serves as a reminder that misinformation in the crypto space can have immediate and significant impacts on token valuations and investor behavior.

FAQ

Can staking TON earn you a UAE golden visa?

No. UAE authorities have explicitly denied that digital asset investments, including staking TON, qualify for golden visa eligibility.

What is the official requirement to obtain a UAE golden visa?

Eligibility includes high-skilled professionals, investors with AED 2 million+ in public investments, and owners of approved startups. Cryptocurrency holdings are not part of the criteria.

Did Pavel Durov confirm TON’s golden visa claim?

No. Pavel Durov reposted a third-party announcement but has not made any official statement confirming the claim.

How did the market respond to the TON visa rumor?

Toncoin briefly surged 10% to $3.03 but fell back to $2.84 after UAE regulators issued a denial, resulting in a 6% retracement.

Is there any official partnership between TON and UAE authorities?

As of now, no partnership between TON and UAE authorities has been confirmed or recognized officially.