The TON Foundation promised a Golden Visa in the UAE in exchange for $100,000 worth of Toncoin staking and $35,000 in fees, with an expected annual return of 3 to 4%.
On July 6, the TON Foundation announced an explosive offer: to obtain a Golden Visa from the United Arab Emirates by staking $100,000 of Toncoin. The news caused the token price to spike by +12% in just a few hours… before Emirati authorities formally denied the existence of such a program. A mix of marketing brilliance and regulatory grey area.
At first glance, the offer seems enticing. According to Max Crown, CEO of the TON Foundation, TON holders could secure a long-term visa in the UAE (10 years) by staking $100,000 of Toncoin for three years, in addition to paying $35,000 in processing fees. Plus, the opportunity to include the entire family at no extra costs and generate an annual return of 3 to 4% on the staking. A fast-track to Dubai without buying property or income requirements.
But the dream crumbled the next day.
On the morning of July 7, three federal authorities in the UAE, including the Virtual Assets Regulatory Authority (VARA), issued a firm statement: no Golden Visa can be obtained through holding or staking crypto. And to drive the point home: TON is not licensed or recognized as a regulated entity in Dubai.
The message is clear: this offer is not based on any official partnership. Staking TON does not grant you any legal right to a visa. End of story.
Shortly after, various figures in the crypto ecosystem weighed in. Bobby Ong (CoinGecko) considered it a ‘brilliant’ idea to boost demand but hoped it wasn’t just a pump-and-dump scheme. Others criticized the intentionally vague communication, led by a private law firm without any validation from the authorities.
In reality, the TON program indirectly targeted the ‘innovative entrepreneur’ category of the Golden Visa. This requires evidence of a project valued at over 500,000 AED (~125,000 €), validated by an Emirati incubator and an accredited audit. Nothing to do with simply staking on the TON blockchain.
On the markets, the announcement had a booster effect. The TON token surged from $2.75 to $3.06 in a day before settling back around $2.80 after the denial. Trading volume skyrocketed (+250% above the monthly average), a sign of the interest sparked… or speculative frenzy.
