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UAE Rejects TON’s Golden Visa Crypto Staking Offer

Arry Hashemi
Arry Hashemi
Jul. 07, 2025

A recent initiative by The Open Network (TON) to offer United Arab Emirates Golden Visas in exchange for staking Toncoin has been publicly rebuffed in a press release issued Monday by the Emirates News Agency (WAM) by Emirati authorities.

In a joint statement, multiple UAE government bodies, including the UAE’s Federal Authority for Identity, Citizenship, Customs & Port Security (ICP), Securities and Commodities Authority (SCA), and the Dubai Virtual Assets Regulatory Authority (VARA), clarified that no formal arrangement existed between the UAE government and TON or its affiliates.

TonAs of July 7, the offer remains on TON’s website without any disclaimer about the UAE’s denial. (Source: ton.org)

On July 5, the official TON blockchain website unveiled a new residency-linked staking program, inviting participants to stake $100,000 worth of Toncoin for three years, in return for a UAE Golden Visa, a 10-year residency permit. In addition to the locked stake, users were asked to pay a $35,000 one-time processing fee. The website claimed the program would deliver up to 4% annual yield and extend visa benefits to family members at no extra cost.

TON positioned the offer as an investment-based path to residency, managed in partnership with UAE-based service providers. The webpage promoting the initiative stated that applicants would receive a Golden Visa within seven weeks and enjoy seamless processing, all while retaining full ownership of their staked funds.

However, within 48 hours of the offer going public, several UAE government bodies issued an unprecedented joint statement debunking the program’s legitimacy. In a formal notice carried by the Emirates News Agency (WAM), the UAE’s Federal Authority for Identity, Citizenship, Customs & Port Security (ICP), Securities and Commodities Authority (SCA), and the Dubai Virtual Assets Regulatory Authority (VARA) clarified that no formal arrangement existed between the UAE government and TON or its affiliates.

According to the statement, "No residency visas, including the Golden Visa, can be obtained through cryptocurrency investments, and no digital asset platform is authorized to offer such services under current UAE immigration or financial regulations." The agencies emphasized that all digital asset-related activities must be registered and approved by the appropriate authorities, particularly VARA and SCA.

The swift denial from UAE regulators threw the TON staking initiative into controversy. Notably, VARA, Dubai’s official crypto watchdog, clarified that TON is not registered or regulated under its jurisdiction. That means any claims regarding residency, financial services, or regulated yields offered through TON-related programs have no legal standing within the country.

Before UAE government bodies issued their unprecedented joint statement, former Binance CEO, CZ, had raised doubts about the credibility of The Open Network’s UAE residency offer.

The incident has brought to light the increasingly common but problematic trend of crypto projects attaching themselves to sovereign programs, such as residencies or passports, without formal state approval. It also spotlights the risks investors face when financial offers are framed through decentralized platforms but implicate national immigration policy.

TON’s leadership has not issued a formal statement in response to the UAE government’s denial. However, their website as of July 7 still displays the offer, with no visible disclaimer noting the absence of official endorsement.

The UAE, particularly Dubai, has long marketed itself as a global hub for digital asset innovation, attracting major players in the blockchain and crypto finance space. Authorities have rolled out progressive regulations such as VARA’s licensing regime, allowing for well-regulated crypto exchanges, custodians, and token issuers to operate transparently. Yet the government has been equally firm in drawing the line between licensed and unauthorized activity, especially when it intersects with immigration, national security, or financial fraud concerns.

According to the official UAE government portal, the Golden Visa program remains reserved for investors, entrepreneurs, specialized talents, researchers, and other categories of individuals deemed to contribute significantly to the country's development goals. There is currently no provision allowing cryptocurrency investments to serve as a basis for qualification.

For investors, this latest episode serves as a cautionary tale. Offers that appear too good to be true, especially those mixing crypto with state benefits, should be carefully vetted against official government statements and regulatory listings.

As jurisdictions around the world adapt to the growing influence of blockchain technology, regulatory clarity will be essential to ensuring public trust. Until then, investors should tread carefully when navigating hybrid offers that operate at the boundary between decentralized finance and centralized law.