07.07.2025 15:24

The United Arab Emirates government has officially refuted claims of a partnership with Toncoin to offer expedited golden visas to cryptocurrency investors. A joint statement, released on June 6th by the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Virtual Assets Regulatory Authority (VARA), and the Securities and Commodities Authority (SCA), categorically denied any such arrangement. This decisive action follows recent unsubstantiated rumors circulating online.

Contrary to the misleading information spread by Toncoin, the ICP clarified that eligibility for a UAE golden visa is strictly defined and currently excludes investors in digital assets. The statement emphasized that only select individuals, such as real estate investors, exceptionally talented professionals, and humanitarian leaders, meet the criteria for this prestigious visa program. The government stressed the importance of adhering to established procedures and official channels for visa applications.

Toncoin’s recent announcement, promising a ten-year golden visa in exchange for staking $100,000 worth of TON tokens for three years plus a $35,000 processing fee, proved to be entirely inaccurate. This announcement, found on the internet, significantly boosted TON’s price before the UAE’s swift and decisive denial. The promised timeframe of seven weeks for visa issuance, a stark contrast to the typical three-to-six-month process, further highlighted the misinformation.

The UAE authorities have explicitly stated that their golden visa program operates under a transparent and officially approved system; this system does not include cryptocurrency investments as a qualifying factor. Investors and those considering relocation to the UAE are strongly advised to exercise vigilance, verifying all information through official government channels before acting on it. Furthermore, VARA highlighted that Toncoin lacks both regulation and official recognition within the UAE.