TON's UAE Golden Visa Offer Questioned by CZ and Denied by UAE Authorities

A recent announcement by The Open Network (TON) Foundation, claiming to offer a path to a 10-year UAE Golden Visa for individuals staking $100,000 in Toncoin (TON) for three years, has sparked both excitement and skepticism. While the offer initially led to a surge in Toncoin's price, it has since been challenged by prominent crypto figures and explicitly refuted by UAE regulatory bodies.

The Controversial Golden Visa Program

The TON Foundation's initiative, in partnership with UAE-based firm Peravel, advertised a streamlined process for obtaining the coveted long-term residency visa, promising approval in under seven weeks and coverage for immediate family. This proposal aimed to significantly lower the financial threshold for a Golden Visa, which typically requires a much larger investment in real estate or other assets. Participants were also promised an estimated 3-4% annual yield on their staked Toncoin, with the tokens unlocked after the three-year staking period. Telegram CEO Pavel Durov even reposted the announcement, adding to the initial buzz.

Official Denial and Industry Skepticism

However, the legitimacy of this program was quickly questioned by former Binance CEO Changpeng "CZ" Zhao, who described it as "too good to be true" and highlighted the absence of any official announcement from UAE government sources. CZ, a recipient of the UAE Golden Visa himself, emphasized the importance of verifying such claims through official channels.

Following these doubts, UAE authorities, including the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA), issued a joint statement. They unequivocally denied that Golden Visas are granted to digital currency investors, clarifying that such investments are governed by separate regulations and are not linked to visa eligibility. VARA also explicitly stated that TON is neither licensed nor regulated by their authority, urging investors to rely solely on credible government sources for visa information. This official denial has led to a partial retracement in Toncoin's recent gains, underscoring the market's sensitivity to regulatory clarity.