UAE Officials Clarify: Toncoin (TON) Staking Does Not Qualify for Golden Visa Program

United Arab Emirates regulators have categorically dismissed claims that staking Toncoin (TON) could qualify investors for the country's coveted Golden Visa program. The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), alongside the Securities and Commodities Authority and Dubai's Virtual Assets Regulatory Authority (VARA), issued a joint statement refuting these assertions.

The clarification comes after TON Foundation CEO Max Crown announced on social media platform X that staking $100,000 worth of TON for three years—plus a $35,000 processing fee—would grant applicants the 10-year residency permit. TON prices rallied 12% to nearly $2.90 following the now-debunked announcement before retreating.

Authorities emphasized that neither TON nor any other digital asset currently factors into Golden Visa eligibility criteria. VARA specifically noted that Toncoin lacks regulatory approval in Dubai's jurisdiction.