Authorities in the United Arab Emirates have refuted recent reports suggesting that Toncoin (TON) holders could secure a "golden visa" through staking their tokens.
The claim, which gained traction on social media and crypto forums, has now been formally debunked by top regulatory bodies in the country.
In a rare joint statement, the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Dubai-based Virtual Assets Regulatory Authority (VARA)that no such crypto-linked residency program exists. The agencies emphasized that only specific categories—such as real estate investors, entrepreneurs, and individuals with exceptional skills—are eligible for long-term visas under established criteria.
Following the announcement, Toncoin’s market value took a sharp hit, reflecting investor disappointment over the retraction of what many believed was a groundbreaking initiative connecting blockchain and immigration policy.
The SCA reminded the public that digital assets fall under distinct regulatory frameworks and do not influence eligibility for immigration benefits. They urged the public to verify such information through official channels to avoid falling victim to misinformation or fraud.
Meanwhile, VARA went a step further, warning that the TON project is not licensed or overseen by the authority. The agency stressed the importance of transacting only through authorized firms to ensure consumer safety, especially in the fast-growing virtual asset sector.
Authorities concluded with a strong advisory: no digital currency—Toncoin included—grants access to immigration benefits in the UAE. Investors should remain cautious and rely solely on government-issued guidance for matters involving visas and financial investments.
