UAE authorities have officially denied claims that investors can obtain the UAE Golden Visa by staking Toncoin (TON), following a surge in interest sparked by a social media post from the TON Foundation.
The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and Dubai’s Virtual Assets Regulatory Authority (VARA) released a joint statement dismissing the reports as false. ICP confirmed that current Golden Visa programs do not include pathways for digital asset holders. VARA further clarified that Toncoin is neither licensed nor regulated by its authority.
The denial comes in response to a weekend post by Max Crown, CEO of the TON Foundation, who claimed on X (formerly Twitter) that investors could secure a 10-year UAE Golden Visa by staking $100,000 worth of Toncoin for three years, along with a one-time $35,000 processing fee.
Toncoin prices surged over 12% following the post, briefly touching $2.90 before retreating slightly. As of the latest data, TON is trading at $2.8166.
Toncoin has gained attention as part of the Telegram-linked blockchain ecosystem. In May, Telegram founder Pavel Durov announced a partnership with Elon Musk’s AI venture xAI, though Musk later clarified that the deal had not been finalized.
The UAE’s swift rebuttal aims to dispel misinformation and reassert regulatory clarity amid growing global interest in crypto-linked residency programs. Prospective investors are advised to consult official sources before acting on unverified offers involving digital assets and immigration pathways.
