07.07.2025 05:09

UAE authorities have firmly refuted claims that a UAE Golden Visa can be obtained through Toncoin staking. A joint statement issued on Monday by the Federal Authority for Identity, Citizenship, Customs and Port Security, the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) explicitly denied any such program exists. Crucially, the statement highlighted that current Golden Visa frameworks don't accommodate investors in digital currencies. VARA further emphasized that TON itself lacks both a license and regulatory approval within the UAE.


This official denial directly contradicts a weekend announcement by Max Crown, CEO of the TON Foundation. Crown's X post proclaimed that UAE Golden Visas were now attainable by staking $100,000 worth of Toncoin for a three-year period, alongside a $35,000 processing fee, granting recipients a ten-year visa. This claim, however, proved short-lived, as the price surge in TON (a 12% jump to nearly $2.9) was swiftly followed by the UAE's strong rebuttal.


The conflicting statements highlight the volatile nature of the cryptocurrency market and its susceptibility to misinformation. This incident follows earlier news of a potential partnership between Telegram (the creator of TON) and xAI, Elon Musk's artificial intelligence venture. While Telegram's founder, Pavel Durov, initially announced this collaboration in May, Musk later clarified that no formal agreement had yet been reached, emphasizing the fluidity and often uncertain nature of such announcements. The situation underscores the need for caution and verification when dealing with information surrounding cryptocurrency investments and government programs.