UAE denies reports of Golden Visas for TON staking, warning investors against false claims. | Credit: Getty Images.
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Key Takeaways
UAE regulators have denied claims that crypto staking on TON qualifies for the Golden Visa program.
A joint statement from the country’s top financial authorities warns the public against false reports.
Despite the denial, TON’s official site is still promoting the visa-staking opportunity.
The buzz around a new “crypto staking for residency” scheme in the UAE turned out to be just that, buzz.
Reports suggesting that the Emirates was granting Golden Visas in exchange for staking Toncoin (TON) have been officially shut down by the country’s top regulators.
UAE Regulators Deny Crypto-Based Golden Visa Reports
In a rare joint statement issued on July 6, the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) dismissed the TON-linked visa program as false and unapproved.
They emphasized that Golden Visas are granted only through formal, government-approved channels, not via unofficial crypto promotions.
The UAE’s Golden Visa program, launched in 2019, offers investors, professionals, and entrepreneurs a 5- or 10-year residency option.
The TON staking offer promised a 10-year visa in exchange for $100,000 worth of staked TON (locked for 3 years) plus a $35,000 processing fee.
That “deal” gained attention over the weekend, with crypto X buzzing about what appeared to be a breakthrough moment for blockchain-based residency.
Oddly, TON’s official website continues to advertise the staking-for-visa option, hours after the UAE regulators issued their warning.
The banner at the top of the site still invites users to “Get Your UAE Golden Visa” through staking.
Ton UAE Golden Visa advertisement. Source: TON
While the crypto community was quick to celebrate the idea, others urged caution. Some noted that the program seemed too good to be true, especially given the UAE’s tight control over immigration and financial compliance.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
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