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UAE denies TON’s Golden Visa offer – Token dips 6% after official rebuke

Press Releases Crypto News AMB-Crypto UAE denies TON’s Golden Visa offer – Token dips 6% after official rebuke

UAE authorities denied any link between Toncoin staking and the Golden Visa program.
Binance’s CZ and experts raised doubts over TON’s unusually low visa investment requirements.

Toncoin [TON] recently made headlines after a sharp two-hour surge of over 12% on the 8th of July, fueled by buzz surrounding a supposed new residency pathway in the UAE.

The Open Network claimed that individuals could obtain a 10-year UAE Golden Visa by staking $100,000 in Toncoin for three years, along with a $35,000 processing fee.

This announcement initially sparked high trading volumes and investor enthusiasm.

However, the excitement was short-lived as Toncoin’s price soon retraced by 6%.

UAE dismissed TON’s Golden Visa claims

The pullback followed swift clarification from UAE authorities, who dismissed the staking-for-visa claims, putting the brakes on the token’s momentum.

Key UAE authorities, including the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and Dubai’s Virtual Assets Regulatory Authority (VARA)—have firmly denied any arrangement linking Toncoin staking to the country’s Golden Visa program.

In an official statement, the ICP clarified that Golden Visas are granted under well-defined and government-sanctioned categories, none of which include cryptocurrency investors.

Eligible recipients, according to current guidelines, are typically real estate investors, entrepreneurs, exceptional talents, scientists, outstanding students, humanitarian leaders, and frontline worke

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Author: Ishika Kumari

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