Toncoin (TON) experienced a sharp sell-off, retreating 6% from its intraday high, following the UAE’s direct refutation of Telegram-backed claims that staking the native cryptocurrency could facilitate residency.

Initial Surge and Claim

On Sunday, TON briefly soared 10% following an announcement hinting a TON staking pledge might connect to the UAE’s prestigious golden visa program. The claimed pathway required locking up $100,000 worth of TON for three years and paying a $35,000 fee, promising a potential 10-year golden visa.

UAE Regulatory Clarification

This speculation, amplified by Telegram CEO Pavel Durov’s repost, proved ephemeral. The Emirates News Agency published a statement Monday from multiple UAE regulators – the Federal Authority for Identity, Citizenship, Customs and Port Security; the Securities and Commodities Authority, and the Virtual Assets Regulatory Authority – explicitly debunking the link.
They confirmed that “golden visas are not issued to holders of digital assets” and emphasized digital currency investments fall under distinct regulations, carrying no relation to visa eligibility. A representative urged reliance solely on official information sources.
The TON Foundation has not yet issued a clarification or comment.

Understanding the UAE Golden Visa

The UAE’s golden visa, introduced in 2019, offers long-term residency without sponsorship.
Eligibility for a 10-year visa requires public investments worth **AED 2 million ($544,000)** or more, though TON claimed eligibility via its own pathway.
High-income earners may qualify via a high net worth requirement (currently set at AED 1 million in spendable income for five-year stays). Foreign graduates and highly skilled professionals can also qualify.
The claim regarding TON staking did not align with these conventional avenues for securing a golden visa.