UAE Denies Toncoin Staking Golden Visa — TON Spikes, Then Plunges

TradingKey – On Monday, July 7, Toncoin (TON) — developed by the Telegram team — fell to $2.83, reversing a sharp rally after UAE authorities denied rumors that staking TON would qualify investors for a 10-year Golden Visa.

Toncoin Price Chart – Source: CoinMarketCap.

The controversy began on July 6, when reports circulated that staking $100,000 in TON for three years would grant investors a UAE Golden Visa, offering long-term residency and business privileges. The claim gained traction after Binance founder CZ commented, “If this is real, we’ll definitely try to get it on BNB too”.

In response, TON Foundation CEO Max Crown insisted the offer was real, replying, “Definitely real. DM me.” The token surged over 10% on the news.

Posts from Max Crown and CZ – Source: X.

However, on July 7, the UAE’s Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), along with the Securities and Commodities Authority (SCA) and the Virtual Assets Regulatory Authority (VARA), issued a joint statement via WAM, the Emirates News Agency, denying any such visa program tied to digital asset staking.

The agencies emphasized that Golden Visa eligibility is limited to officially approved categories, such as real estate investors, entrepreneurs, scientists, and humanitarian pioneers — not crypto holders. They also clarified that TON is not licensed under VARA, and urged investors to rely on official sources for residency-related information.