The UAE government has officially denied any connection to a viral Toncoin Golden Visa program, quashing rumors that staking $100,000 worth of TON could secure a 10-year residency in the Emirates.
In a joint statement issued by the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), along with the Securities and Commodities Authority (SCA) and Virtual Assets Regulatory Authority (VARA), officials made it clear that digital asset investments do not qualify for the UAE’s long-term Golden Visa scheme.
Viral Rumor Sparks Market Frenzy
Speculation erupted when The Open Network (TON) team announced what appeared to be a partnership with the UAE government. The offer promised a 10-year Golden Visa in exchange for staking $100,000 in Toncoin for three years, an estimated 3–4% APY, family inclusion, and a $35,000 government fee.
The claim gained massive traction when Telegram founder Pavel Durov retweeted the news, causing Toncoin’s price to surge over 10%, briefly breaking the $3.00 mark—its highest level in nearly three weeks.
Binance’s CZ and Crypto Community React
Even Binance founder Changpeng Zhao (CZ) weighed in, writing:
“Is this real? It would be awesome IF it is true,”
while cautioning his followers to verify information and be wary of unusually high fees.
Other crypto influencers echoed similar excitement, citing the idea as an innovative bridge between crypto and national policy. However, that excitement was short-lived.
UAE Authorities: No Crypto-Backed Visas
The UAE government swiftly debunked the news. The ICP clarified that Golden Visa eligibility remains strictly limited to real estate investments, entrepreneurship, and exceptional talent. Cryptocurrency staking or digital asset holdings are not accepted pathways.
“Investors must always refer to official channels and avoid unverifiable advertisements,” the ICP warned.
VARA also confirmed that Toncoin is neither licensed nor regulated within its framework, reinforcing that only approved and licensed platforms should be trusted by investors.
Following the denial, CZ retweeted the official statement, adding:
“You never know what to believe these days. DYOR!”
Toncoin Price Reverses Gains
After the initial pump, Toncoin’s price retraced, dropping from over $3.00 to $2.73, before stabilizing near $2.83 at the time of writing—a 6.6% decline from its intraday high.
The sharp reversal highlighted how crypto markets remain sensitive to regulatory clarity and the potential fallout from viral misinformation.
Bottom Line:
The UAE government has firmly denied any involvement in the Toncoin Golden Visa program, warning investors to rely only on official sources. The episode serves as a cautionary tale about hype-driven speculation and the importance of due diligence in crypto investing.
