The buzz around a new “crypto staking for residency” scheme in the UAE turned out to be just that, buzz.
Reports suggesting that the Emirates was granting Golden Visas in exchange for staking Toncoin (TON) have been officially shut down by the country’s top regulators.
In a rare joint statement issued on July 6, the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) dismissed the TON-linked visa program as false and unapproved.
They emphasized that Golden Visas are granted only through formal, government-approved channels, not via unofficial crypto promotions.
The UAE’s Golden Visa program, launched in 2019, offers investors, professionals, and entrepreneurs a 5- or 10-year residency option.
The TON staking offer promised a 10-year visa in exchange for $100,000 worth of staked TON (locked for 3 years) plus a $35,000 processing fee.
That “deal” gained attention over the weekend, with crypto X buzzing about what appeared to be a breakthrough moment for blockchain-based residency.
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