Authorities in the United Arab Emirates (UAE) have firmly rejected claims that staking Toncoin (TON) can secure a Golden Visa. The government dispelled such claims on July 7, 2025, when there were speculations that investing $100,000 in Toncoin for three years would earn one a 10-year residency visa. The value of Toncoin notably declined after the refutation, an apparent indication of the fear of genuineness in crypto investments.
UAE Authorities Issue Joint Statement
The UAE Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP), Securities and Commodities Authority (SCA), and Dubai Virtual Assets Regulatory Authority (VARA) issued a joint statement on 7 July categorically refuting that there are staking digital asset residency schemes.
They emphasized that Golden Visas are only available through legal avenues such as real estate investments or business establishment.
The statement read, “Investments in crypto assets such as Toncoin fall outside the Golden Visa framework and are dealt with on an individual basis.” The official rejection stopped rumors that had been circulating like wildfire on social media.
Price Volatility Due to Rumors
Prior to denial, Toncoin appreciated over 10% on July 6 to a fresh all-time high of $3.03. This followed the TON Foundation CEO Max Crown, who had tweeted about the alleged staking Toncoin benefits. The rumor was further amplified by Telegram CEO Pavel Durov, who shared the claim with his millions of followers.
But upon verification of the UAE news, Toncoin price fell by 6%, to approximately $2.83. Traders were very quick on the news, and waves of selling moved quickly. This is a method of indicating how volatile crypto markets are, where the prices fluctuate back and forth quickly based on speculations.
Perils of Misinformation in Crypto
This episode has already invoked the threat of unsubstantiated hype and misinformation in the crypto space. The experts hold that such misinformation not only can mislead the investors but also badmouths the image of the respective projects. Binance founder Changpeng Zhao (CZ) had opined that misinformation has to be cross-checked from the original sources, reiterating calls for transparency demands.
The scandal in the case has put a damper on future prospects of crypto migration. Although the plans offer possible residence or citizenship for investment in tokens, the case is an apt reminder to proceed with caution and proper screening.
The UAE blocking of Toncoin residency applications made a strong market declaration about the importance of accuracy. As the cryptocurrency landscape continues to evolve, both investors and projects must prioritize transparency and accuracy to maintain trust.
