The United Arab Emirates (UAE) government has officially denied recent claims suggesting that cryptocurrency investments, specifically in Toncoin, can qualify individuals for the country’s prestigious Golden Visa residency.
In a joint statement released by three key regulatory bodies, the Federal Authority for Identity and Citizenship, Customs and Ports Security (ICP).
Also the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (Vara), officials clarified that Golden Visas are granted strictly based on pre-defined and government-approved criteria.
Digital currency holdings, including those in Toncoin, are not among the approved categories.
Toncoin Claims Refuted by Regulatory Authorities
The clarification comes in response to a public statement made by Max Crown, CEO of the Ton Foundation.
He claimed on social media that Toncoin holders could obtain a 10-year UAE Golden Visa by staking TON and paying a one-time fee of $35,000.
The claim quickly gained attention online, with some interpreting it as an official pathway to long-term residency through digital asset investment.
However, Vara strongly refuted this, stating that Toncoin and the Ton Foundation are not licensed or regulated by the authority and that the claim is not supported by any official visa policy.
The statement emphasized that companies licensed in the virtual asset sector must follow strict Dubai government procedures.
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Official Golden Visa Eligibility Criteria Outlined
The UAE’s Golden Visa program, which grants long-term residency of up to 10 years, is reserved for specific groups.
These include real estate investors, entrepreneurs, exceptional talents in various fields, scientists, researchers, top-performing students and graduates, humanitarian contributors, and frontline workers.
The ICP reiterated that these are the only categories currently eligible for consideration.
The statement emphasized that all applications undergo a rigorous review based on official criteria, and no exceptions are made for cryptocurrency investors, regardless of the amount or nature of their holdings.
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Public Warned Against Misleading Offers and Unverified Claims
In light of the false claims circulating online, authorities urged the public and potential investors to rely solely on verified and official information.
The SCA warned that misleading advertisements and speculative offers involving virtual assets can result in financial harm, particularly if individuals rely on them for immigration or residency purposes.
The agencies stressed that all information regarding Golden Visa eligibility and virtual asset regulations should be sourced directly from government websites or licensed regulatory entities to avoid deception and potential fraud.
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Regulatory Bodies Reaffirm UAE’s Commitment to Transparent Investment Framework
The joint statement serves not only as a correction of misinformation but also as a reaffirmation of the UAE’s regulatory integrity.
By clarifying the boundaries between virtual asset investments and immigration privileges, the UAE underscores its commitment to a transparent and well-regulated financial environment.
Authorities concluded by inviting all those interested in the Golden Residency program to visit the official ICP website for up-to-date and accurate information.
They also warned companies and individuals against misrepresenting investment schemes as visa-qualifying opportunities, reinforcing the UAE’s stance on responsible and lawful digital asset engagement.