TON Golden Visa: UAE Authorities Deny Cryptocurrency Pathway to Residency

Toncoin ($TON) experienced sharp volatility over the weekend after The Open Network falsely claimed that cryptocurrency staking could secure a pathway to UAE residency, prompting an immediate denial from three government authorities.

The native cryptocurrency of The Open Network initially surged 10% to $3.03 on Sunday following the foundation's announcement the day before that applicants staking $100,000 worth of Toncoin for three years would be eligible for the UAE's golden visa program. However, the token partially retraced 6% from its 24-hour high after the Emirates News Agency published a joint statement from UAE regulators categorically denying the claims.

The TON Foundation's announcement promised an attractive alternative to traditional golden visa routes, requiring only $100,000 in staked TON for three years plus a one-time $35,000 processing fee. The program claimed to offer 10-year golden visas in under seven weeks, with family members included at no extra cost and applicants earning an estimated 3-4% annual yield during the staking period while retaining full control of their cryptocurrency.

Traditional golden visa pathways in the UAE typically require around $540,000 in real estate or fixed deposits, funds that remain non-refundable and tied to illiquid investments, with processing times ranging from three to six months, TON Foundation said.

The Federal Authority for Identity, Citizenship, Customs and Port Security clarified that golden visas are issued according to officially approved frameworks that do not include digital currency investors. Eligible categories remain limited to real estate investors, entrepreneurs, exceptional talents, scientists and specialists, top students and graduates, humanitarian pioneers, and frontline workers.

The Securities and Commodities Authority reaffirmed its commitment to international standards in regulating the financial sector, stating that digital currency investments are governed by specific regulations unrelated to golden visa eligibility. The authority urged investors to obtain information from credible, official sources to avoid misinformation or fraud.

The Virtual Assets Regulatory Authority (VARA) specifically denied any claims regarding golden visas for virtual asset investors in Dubai, noting that TON is neither licensed nor regulated by VARA. The authority emphasized that companies licensed by VARA must strictly adhere to visa procedures outlined by the Government of Dubai and relevant federal authorities.

While the country has positioned itself as a crypto-friendly jurisdiction through VARA's comprehensive regulatory framework, attracting numerous virtual asset service providers, its golden visa program maintains strict traditional investment criteria.

Former Binance CEO Changpeng Zhao questioned the legitimacy of TON's announcement on social media, reflecting broader industry skepticism about the program's authenticity. Despite the official denial, TON's golden visa application page remains active on its website.

The three UAE authorities collectively urged the public and investors to exercise caution and refer to official government websites for accurate information, warning against engaging with unverified advertisements or offers spreading online. For detailed information on golden visa requirements, authorities directed applicants to visit the ICP's official website at www.icp.gov.ae .