UAE Shuts Down TON’s Golden Visa Crypto Claims – Token Tanks 6% Amid Denial
Dubai’s regulatory brass just dropped a hammer on TON’s alleged ‘Golden Visa for crypto investors’ scheme—sending the token into a 6% nosedive. So much for easy residency via memecoins.
Subheader: The Backpedal Heard ‘Round Crypto
UAE officials wasted no time distancing themselves from TON’s unverified claims, leaving bagholders scrambling. Another day, another crypto partnership that vaporized faster than a trader’s patience during consolidation.
Subheader: Market Reaction? Predictably Volatile
TON’s price chart now looks like a desert mirage—promising riches but delivering dust. The 6% plunge mirrors the sector’s chronic habit of pricing in hype before due diligence. Meanwhile, bureaucrats keep their golden visas… and their skepticism.
Closing jab: At least the dip buyers got a discount. Assuming they enjoy catching falling knives.
Source: TON
Per a WAM news agency report, the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the VIRTUAL Assets Regulatory Authority (VARA) refuted the claims.
The three authorities warned against engaging with such unverified offers spreading online.
Update: UAE gov has confirmed you can’t get a Golden Visa by investing in crypto.
Bummer for $TON buyers, it’s ~6% down from today’s high and the news came out around an hour ago.
https://t.co/G2BydgTMFJ pic.twitter.com/LXxcqyh2ZE
The SCA emphasized that crypto investments are governed by established frameworks and are “unrelated” to golden visa eligibility. The agency urged investors to obtain official information from credible sources to avoid misinformation.
Similarly, Dubai’s VARA denied the claims, strongly urging crypto investors to deal exclusively with fully licensed and regulated companies. The company TON is neither licensed nor regulated by VARA, the firm confirmed.
UAE Golden Visa Eligibility Don’t Include Crypto Investors
According to the ICP, golden visas are issued adhering to officially approved frameworks and criteria, which don’t include crypto investors.
“Eligible categories include real estate investors, entrepreneurs, exceptional talents, scientists and specialists, top students and graduates, humanitarian pioneers, and frontline workers.”
The golden visa enables foreign nationals to live, work, and study in the UAE, with durations ranging from 5-10 years. Further, investors can receive long-term residency if they have public investments worth 2 million UAE dirham ($544,000) or more.
CZ Questions TON’s Golden Visa Claims
Following TON’s tout over the UAE long-term visa, former Binance CEO Changpeng “CZ” Zhao posted on X, questioning whether the speculation is true.
“I have not been able to verify with an official source yet,” he wrote, before the authorities released the joint statement.
Is this
real? It would be awesome IF it is true.
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
“This program would be awesome if it was true,” he said. “If it is real, we will definitely try to get it on BNB too.”
Additionally, Telegram CEO Pavel Durov reposted TON’s announcement on X from a crypto influencer, adding more to the speculation. However, commenting on Durov’s retweet, CZ said, “I like to trust but verify.”
“I’d expect something like this to have a government partnership, and announcement.”
TON Shot 10% Briefly, Fell Back 6%
The Open Network’s native token TON surged 10% on Sunday, following the announcement, only to fall back 6% on Monday after the UAE authorities refuted the claims.
TON ROSE to $3.05 on Sunday, recovering recent market losses. The surge, however, was short-lived. Per Coin Market Cap data, the token plunged within hours to 6% and is trading at $2.83 at press time.
