In a swift and decisive move, United Arab Emirates (UAE) authorities have quashed swirling rumors suggesting that investors could secure the illustrious UAE Golden Visa through staking Toncoin (TON). This comes after a statement from the Federal Authority for Identity, Citizenship, Customs and Port Security, along with the Securities and Commodities Authority (SCA) and Dubai’s Virtual Assets Regulatory Authority (VARA), firmly denied any such scheme exists as of July 6, 2025.
Dubious Claims and Official Rebuttal
The clamor began over the weekend when Max Crown, CEO of the TON Foundation, took to social media platform X to proclaim a novel opportunity for Toncoin holders—stake $100,000 worth of TON for three years, add a $35,000 processing fee, and voila, a coveted 10-year UAE Golden Visa would be theirs. The market responded with palpable excitement, as TON’s price leapt 12%, reaching nearly $2.9.
However, Crown’s announcement quickly drew scrutiny. UAE authorities were unequivocal in their response: digital currency investors are not currently incorporated into the Golden Visa framework. Additionally, VARA emphasized that TON is neither licensed nor regulated in Dubai, casting further doubt on Crown’s claims.
A crypto analyst, speaking on condition of anonymity, noted, “The market’s reaction was a classic case of buying the rumor. But the sharp rebuttal from UAE authorities has tempered the enthusiasm, raising important questions about due diligence in the crypto space.”
Market Reactions and Future Implications
The abrupt clarification from UAE officials has left the crypto community reeling. Market participants who rushed to capitalize on the initial hype are now caught in a whirlwind of speculation and uncertainty. Some investors are questioning the credibility of such announcements and the need for clearer regulatory guidelines. This skepticism is further fueled by recent reports of Crypto Theft Hits Record $2.1 Billion in Stolen Funds in H1 2025, highlighting the vulnerabilities in the crypto market.
Intriguingly, this episode isn’t isolated. In May, Telegram’s founder Pavel Durov announced a partnership with Elon Musk’s AI venture, xAI, only for Musk to later clarify that the deal was still under negotiation. This pattern of premature announcements followed by retractions seems to be an emerging trend within the crypto landscape, where the line between hype and reality is often blurred.
“These developments highlight the need for investors to exercise caution,” remarked crypto analyst Sarah Jensen. “The allure of high rewards often overshadows the inherent risks in these nascent markets. Regulatory clarity is crucial for sustainable growth.” For a deeper dive into the regulatory implications, see our coverage of the US Passes Deploying American Blockchains Act.
Regulatory Landscape and the Road Ahead
The incident underscores the ongoing challenges faced by regulators and market participants alike in navigating the rapidly evolving crypto sector. The UAE, known for its progressive stance on blockchain technology, is yet to fully integrate digital assets into its established frameworks for residency and investment.
As the UAE continues to position itself as a global crypto hub, the importance of transparent communication and robust regulatory oversight cannot be overstated. The episode serves as a cautionary tale, reminding stakeholders of the delicate balance between innovation and regulation.
Looking ahead, the crypto community will be watching closely to see how the UAE and other jurisdictions adapt to the dynamic landscape. Will digital currency investors eventually find a place within the Golden Visa framework? Only time will tell.
For now, the message is clear: tread carefully and verify claims rigorously. As the dust settles from this latest saga, stakeholders are left to ponder the tumultuous interplay of ambition, regulation, and the relentless march of technology.
Source
This article is based on: UAE Authorities Debunk Reports of Getting Golden Visa by Staking Toncoin
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
