Key Takeaways:
- TON promoted a Golden Visa offer tied to staking $100,000 in Toncoin, triggering a temporary price spike.
- UAE authorities denied the offer’s legitimacy, stating digital assets don’t qualify for visa eligibility.
- Regulators confirmed TON lacks necessary licensing under VARA, raising concerns over unverified crypto programs.
The Open Network (TON) recently promoted a program claiming to offer 10-year UAE Golden Visas to individuals who stake $100,000 in Toncoin for three years and pay a $35,000 processing fee.
The offer, which promised quick approval and full control of staked assets, generated buzz across social media and briefly pushed Toncoin’s price up over 10%.
🚀 Big News! 🚀
— Max Crown (@crownmax) July 6, 2025
Toncoin has just launched a groundbreaking initiative, offering TON holders the exclusive chance to secure a 10-year Golden Visa! 🇦🇪✨
🔹 Stake $100K in $TON for 3 years
🔹 Pay a one-time fee of $35K
🔓 Unlock funds after 3 years
This isn't just about visas,…
However, UAE authorities swiftly denied the legitimacy of the claim.
In a joint statement, the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) clarified that digital asset holdings do not qualify for Golden Visa eligibility.
They also emphasized the importance of verifying residency opportunities through official sources.
Former Binance CEO Changpeng Zhao also questioned the program’s credibility, noting the lack of any government endorsement and pointing out that staking is a regulated activity requiring proper licensing.
Is this 👇 real? It would be awesome IF it is true.
— CZ 🔶 BNB (@cz_binance) July 6, 2025
But I got conflicting info so far.
Some say: this is just so that they charge you $35k to pass your application to an agent, who usually only charge $1k fee.
The website seems to give the impression that "$35k + $100k… https://t.co/u3mySnObWu
While TON claimed the initiative was managed by UAE-based partners, regulators confirmed TON is not licensed under VARA.
The controversy highlights the importance of regulatory clarity as the UAE expands its role in the global crypto ecosystem.
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