The "golden visa with TON" that creates excitement in Crypto has confused things.

On Sunday morning, the news that "TON stakers will be granted residency in the UAE," which created a stir in both finance and the crypto world, was quickly denied by the country's authorities. VARA, known as Dubai's crypto regulator, also stated that the TON token is not regulated in Dubai.

Durov RT'di, CZ questioned

Telegram's crypto-friendly founder Pavel Durov was among those who retweeted this news. This situation had convinced both Telegram users and those who approached the news with skepticism. However, Changpeng Zhao, one of the founders of Binance and the former CEO of the exchange, stated that a formal announcement was needed continuously since the news broke.

CZ, who stated that he is one of the biggest supporters of Pavel Durov, said, "If such a thing exists, and if the news is true, Binance should do this with BNB." Although CZ's constant questioning of the news caused some users on X to react, in the end, it was Zhao who turned out to be right.

Joint statement from the institutions

Authorities from AE stated in a joint statement that the news is not true. The Federal Identity, Citizenship, Customs and Port Security Authority (ICP), the Securities and Commodities Authority (SCA), and Dubai's Virtual Assets Regulator (VARA) expressed in their joint statement that such an agreement does not exist.

While ICP stated that there is no use of crypto for citizenship grants, VARA also announced that TON is not regulated in Dubai.

In a statement from the TON Foundation, it was noted that locking 100,000 dollars worth of TON tokens for 3 years would ensure the acquisition of a 10-year residency permit in the AE.

It is stated that the same transactions are at the level of 540 thousand dollars under normal conditions.

After the news broke, TON had risen by more than 10%, but after the rejection statements, it had given back all its gains.

At the time this news was written, the TON token is trading below 2.8 dollars.

Published: July 7, 2025 10:20Last Updated: July 7, 2025 10:25