UAE rejects crypto-linked Golden Visa claims: The real story behind this move

Dubai: The UAE moved quickly to shut down any unconfirmed claims surrounding cryptocurrency investors being made eligible for the country’s prestigious Golden Visa program. But what led to this official clarification?

This came in response to widespread reports and social media posts promoting an alleged pathway to long-term UAE residency through a staking program linked to The Open Network (TON), a blockchain platform associated with Telegram.

Over the weekend, TON reportedly unveiled what it described as a new residency option, offering 10-year UAE Golden Visas to applicants who stake $100,000 worth of Toncoin for three years and pay a $35,000 processing fee. The promotional material promised approvals within seven weeks and included visa coverage for immediate family members, including spouses, children, and parents.

UAE authorities issue unified denial

In response, the Emirates News Agency (WAM) published a joint statement from three key federal regulators:

• The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP)

• The Securities and Commodities Authority (SCA)

• The Virtual Assets Regulatory Authority (VARA)

All three authorities denied any connection between digital asset investment and Golden Visa eligibility.

“Golden Visas are issued according to officially approved frameworks and criteria, which do not include digital currency investors,” the statement said.

The authorities further warned investors and the public to rely solely on official government channels to avoid falling for misinformation or unauthorized offers.

TON not licensed in UAE, say regulators

While the original staking program claimed to involve UAE-based processing partners, VARA clarified that TON is not a licensed or regulated entity in the UAE.

The agencies also reiterated that digital currency investments are subject to specific regulations, which are separate from visa and immigration policies.

“Investors are urged to verify information through credible sources and avoid offers not backed by licensed or regulated providers,” the statement added.

Crypto market reacts, so do skepticism

Following TON’s announcement, Toncoin (TON) briefly surged over 10%, trading at around $2.98 before settling. However, industry leaders and observers quickly expressed skepticism.

Former Binance CEO Changpeng “CZ” Zhao posted on X (formerly Twitter) questioning the legitimacy of the staking-for-visa offer, citing the absence of any supporting information on official UAE government websites.

“Is this real? I like to trust but verify,” CZ wrote.

While some pointed to Telegram CEO Pavel Durov’s for the initiative on social media when retweeting the news, alongside TON Foundation CEO Max Crown tweeting that it was “Definitely real”, the lack of formal recognition from UAE authorities left many questioning the program’s authenticity.

The TON Foundation later set the record straight, confirming there is no official UAE government partnership for its golden visa initiative, just "early-stage exploration for now".

Golden Visa requirements remain unchanged

The UAE’s Golden Visa remains available to individuals who meet established criteria in categories such as:

• Real estate investment

• Entrepreneurship

• Science and healthcare

• Cultural or creative achievement

• Humanitarian efforts

• Academic excellence and frontline work

Cryptocurrency holdings or blockchain staking are not listed among the current eligible pathways.

What is UAE's current stance on crypto?

While the UAE has made significant progress in becoming a global hub for blockchain innovation—launching crypto zones, DeFi initiatives, and tokenized real estate pilots—its regulators maintain a clear distinction between tech innovation and immigration policy.

The latest clarification underscores the country’s emphasis on transparency, investor protection, and responsible innovation. VARA, SCA, and ICP urged the public to avoid engaging with unverified promotions and to consult government platforms for accurate information.