UAE Rejects Toncoin-Staking Golden Visa Claim

Toncoin Falls 6% After UAE Denies Golden Visa Program Link

Toncoin (TON) dropped 6% after UAE authorities rejected claims that staking the token could qualify investors for the country’s 10-year golden visa.

The Open Network had stated that staking $100,000 in TON for three years, along with a $35,000 fee, would make applicants eligible for UAE residency. This announcement initially triggered a 10% surge in TON’s price, pushing it to $3.03.

However, the excitement quickly faded after the Emirates News Agency (WAM) released an official rebuttal from several key UAE regulators, sending TON back down to $2.84, a 6% drop from its daily high.

UAE Authorities Refute TON Visa Claims

TON’s announcement gained momentum after Telegram CEO Pavel Durov reposted a related message on X. Although Durov didn’t issue an official statement, his post contributed to the hype.

Later, UAE regulators, including the Federal Authority for Identity, Citizenship, Customs and Port Security, Securities and Commodities Authority, and Virtual Assets Regulatory Authority, issued a joint clarification.

“Digital asset holders are not eligible for golden visas,” they said, adding that such investments are regulated separately and do not impact residency qualifications.

Officials urged the public to rely on trusted sources and avoid misinformation around crypto-related visa pathways.

Golden Visa Still Tied to Traditional Criteria

The UAE’s golden visa program, launched in 2019, allows qualified individuals to live, work, and study in the country without a local sponsor.

Eligibility is reserved for people with exceptional skills, such as doctors, scientists, and researchers. Investors may also qualify if they hold at least AED 2 million (approximately $544,000) in public investments.

Entrepreneurs may apply if they run a UAE-recognized startup, particularly in technology or innovation sectors.