UAE Denies TON’s Golden Visa Claims: What’s Really Happening?
Key Takeaway: Despite TON Foundation’s claims that staking $100,000 TON for 3 years could help obtain UAE golden visas, official UAE authorities have formally denied this information, causing TON to drop 6% from its 24-hour high.
What’s Really Happening With TON?
The Open Network (TON) finds itself at the center of a credibility storm after UAE regulators flatly rejected its claims about golden visa access. The controversy ignited when TON suggested that locking $100,000 worth of Toncoin for three years, plus a $35,000 administrative fee, could fast-track applicants for the UAE’s coveted 10-year residency program. Initial market enthusiasm sent TON soaring 10% to $3.03 on Sunday as traders bet on the program’s potential to drive token demand.
Unfortunately, the good times didn’t last. On Monday, the Emirates News Agency dropped a joint rebuttal from three major regulatory bodies, and TON immediately lost 6% of its value. This shows how much regulatory news can swing crypto prices, especially for projects like TON that are so closely tied to mainstream platforms like Telegram.
UAE Disputes Golden Visa Claims
Over the weekend, the TON Foundation sparked a frenzy by claiming users could lock up $100,000 worth of Toncoin for 3 years – plus a one-time $35,000 fee–to qualify for the UAE’s coveted 10-year golden visa. The hype went supernova when Telegram CEO Pavel Durov reposted the announcement to his 2.3 million X followers, even though he never personally endorsed it.
But by Monday, reality hit hard. UAE regulators shut down the claim with extreme prejudice. UAE Officials made it super clear: “Golden visas aren’t given out for holding digital assets.” They explained that crypto investments are under different financial rules and won’t help you get a visa. They also warned people to watch out for “unverified sources” and to always check with official government channels to avoid scams. This quick response shows that the UAE is really stepping up its game with regulations as it tries to become a well-regulated hub for cryptocurrency.
Golden Visa Eligibility Requirements
Launched in 2019 and significantly expanded in 2022, the golden visa program aims to attract top global talent, not cryptocurrency speculators. Successful candidates usually show outstanding professional accomplishments as scientists, doctors, engineers, or cultural figures. For investors, the path requires verifiable public investments over 2 million AED ($544,000) in UAE-based real estate, businesses, or investment funds.
Entrepreneurs looking to get involved need to be part of government-approved tech startups that are truly innovative. It’s not just about staking tokens; there are serious background checks and proof of qualifications required. Dubai is solidifying its position as a global fintech leader, clearly prioritizing legitimate investment opportunities over flashy crypto promotions.
At its core, the Golden Visa is about long-term value and tangible impact, not hype or digital speculation. The “staking-for-visa” model reinforces the UAE’s stance that digital assets remain financial instruments, not immigration pathways.
