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Regulators from the United Arab Emirates denied claims that there is a chance of obtaining a 10-year Golden Visa through a new staking-based residency program for toncoin ($TON).
This refutes an announcement made by enthusiasts and supporters of blockchain platform The Open Network (TON) that sparked widespread attention and a price surge for its native token.
UAE Statement
The Emirates News Agency issued a statement citing a joint clarification from the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA), denying the existence of the said program.
The clarification emphasized that digital asset investments are not part of the eligibility criteria for Golden Visas.
“The ICP clarified that golden visas are issued according to clear and officially approved frameworks and criteria, which do not include digital currency investors… The authority further confirmed that digital currency investments are governed by specific regulations and are unrelated to golden visa eligibility. It urged investors to obtain information from credible, official sources to avoid misinformation or fraud.”
UAE Authorities
The agencies also clarified that TON is neither licensed nor regulated by VARA, contradicting initial perceptions of official endorsement.
TON Foundation Clarification
The TON Foundation, a non-profit organization that supports initiatives in the TON ecosystem, issued a statement clarifying that its recently announced UAE Golden Visa initiative is not affiliated with or endorsed by any official government entity in the country.
The entity explained that the initiative is part of an independent collaboration with a licensed partner focused on blockchain infrastructure and tokenized assets. It also emphasized that the program is in an exploratory phase and not formally tied to the UAE government.
“The initiative in question stems from an independent collaboration between TON and a licensed partner specializing in blockchain infrastructure and tokenized assets. This exploratory effort is developing outside of any formal arrangement with the UAE government entities. To clarify, no official Golden Visa program has launched in partnership with the government of the United Arab Emirates, nor has any governmental endorsement been granted to TON.”
TON FoundationÂ
Any future offerings would comply with all relevant laws and regulations, and applying to the initiative does not guarantee visa issuance, which remains solely at the discretion of UAE authorities, as stressed by the foundation.
The TON Foundation stated it remains committed to responsibly exploring blockchain-based solutions that could support real-world access to residency pathways in the future and will communicate any official developments through appropriate channels.
What Happened?
Over the weekend, an announcement on the TON platform itself showed that a residency initiative allows applicants to secure UAE Golden Visas by staking at least $100,000 worth of $TON for three years, alongside a $35,000 processing fee. TON claimed the visa would be processed in under seven weeks, cover immediate family members, and offer annual yields of 3% to 4% through decentralized smart contracts.
The news further gained traction when Telegram CEO Pavel Durov implicitly confirmed it by reposting the announcement on X from crypto influencer Ash Crypto.
Although the UAE has since denied the claim, TON’s announcement initially triggered a price surge of over 10% for $TON, pushing the token’s value to nearly $3 from a low of $2.72 on July 6, 2025. However, as of writing, the token has dropped to $2.80, marking a 3.2% decline, according to the data from CoinGecko.
CZ Doubts on the Program
On the other hand, former Binance CEO Changpeng “CZ” Zhao expressed skepticism over TON’s program offering UAE Golden Visas in exchange for staking Toncoin, citing conflicting information and the lack of official confirmation from Emirati authorities.
In a post on X, Zhou questioned whether the offer was legitimate. He said the offer would be great if genuine but pointed out that the wording on TON’s website was vague and that no official government sources had confirmed the program.Â
Zhao further pointed out that the official Golden Visa pathways in the UAE include real estate investments of at least AED 2 million, annual tax contributions or business investments of AED 250,000, or qualifications under categories like entrepreneurship, professional achievement, or exceptional talent.Â
UAE in Web3
In May, Ripple launched cross-border blockchain payments in the UAE, partnering with Zand Bank and Mamo to enhance the country’s growing digital finance ecosystem through faster transactions using stablecoins, crypto, and fiat currency. Prior to this, Ripple became the first blockchain-based payments provider licensed by the Dubai Financial Services Authority to offer regulated crypto payments in the UAE last March.Â
In 2024, according to a report from Chainalysis, the UAE has emerged as one of the most advanced crypto markets in the Middle East, driven by clear, collaborative regulation and rapid DeFi adoption, with over $30 billion in crypto received between July 2023 and June 2024 and an 87% year-on-year growth in decentralized exchange activity.
This article is published on BitPinas: UAE Denies Golden Visa Claim for $TON Stakers
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