Main Points:
- The UAE officially denies that staking Toncoin qualifies for a 10-year Golden Visa.
- Industry leaders, including Binance’s CZ, expressed skepticism prior to governmental clarification.
- UAE authorities emphasize visa eligibility excludes crypto investments, urging reliance on official sources.
- Dubai’s VARA and the DFSA have recently advanced real-world asset tokenization and stablecoin recognition.
- The Central Bank of the UAE plans to launch its Digital Dirham CBDC by Q4 2025.
- Ruya emerges as the world’s first Shariah-compliant Islamic bank offering crypto trading.
- Broader implications underscore the UAE’s goal to balance stringent regulation with innovation.
1. Background of TON’s Golden Visa Announcement
On July 5, 2025, the TON Foundation—backing The Open Network (TON) blockchain born from Telegram—announced a program claiming that individuals could secure a 10-year UAE Golden Visa by staking $100,000 worth of Toncoin for three years and paying a $35,000 processing fee. The Foundation asserted that visa issuance would take approximately seven weeks and extend coverage to immediate family members at no extra cost.
Industry observers raised immediate doubts over the announcement’s authenticity, noting that the Golden Visa scheme traditionally caters to real estate investors, high-value entrepreneurs, and specialized professionals, with no historical basis for including crypto holdings.
2. Contrasting Perspectives from Industry Leaders
Changpeng “CZ” Zhao, co-founder of Binance, questioned the validity of TON’s claim on X (formerly Twitter), stating he had not found corroborating information on UAE government portals. He remarked, “If true, it’s fantastic—but so far, there are conflicting reports.” Sigil Partners’ Joe Hedgehog echoed this sentiment, suggesting the program may be a private service using TON infrastructure rather than a government-sanctioned initiative. These comments underscored the industry’s cautious approach prior to official clarification.
3. Official Denial by UAE Authorities
On July 7, 2025, the UAE’s Ministry of Interior, Securities and Commodities Authority (SCA), and Dubai’s Virtual Assets Regulatory Authority (VARA) jointly released a statement via WAM, the official news agency, categorically denying TON’s Golden Visa claims. They reiterated that Golden Visas are exclusively issued to qualified real estate investors, entrepreneurs, and professionals, and that cryptocurrency holdings are not an eligible criterion. VARA further clarified that TON is neither licensed nor regulated in Dubai. The authorities urged the public to consult only official sources to avoid misinformation and potential scams.
4. Broader Crypto and Blockchain Regulatory Landscape
Despite this denial, the UAE continues to position itself as a leading global hub for crypto and blockchain innovation. In May 2025, VARA updated its Asset-Referenced Virtual Assets Issuance Rules, providing a comprehensive framework for tokenizing real-world assets (RWAs) such as real estate and commodities. These rules bring clarity to issuance, listing, and trading, reinforcing Dubai’s appeal to regulated DeFi and Web3 enterprises.
Concurrently, on June 3, 2025, the Dubai Financial Services Authority (DFSA) recognized Ripple’s US dollar-backed stablecoin, RLUSD, for use within the Dubai International Financial Centre (DIFC). This approval marks a milestone in the integration of stablecoins into the conventional financial infrastructure.
5. Emergence of Shariah-Compliant Crypto Banking
In a parallel development, Ruya launched crypto trading services, becoming the world’s first Islamic digital bank to offer such functionality under Shariah principles. Ruya’s platform, developed in partnership with Fuze, enables customers to buy, sell, and hold leading cryptocurrencies like Bitcoin within a curated, ethically aligned investment framework—bridging Islamic finance with digital asset markets.
6. Central Bank Digital Currency and CBDC Initiatives
The Central Bank of the UAE announced plans to roll out its Digital Dirham retail CBDC by Q4 2025, building on pilot projects exploring wholesale and cross-border use cases. This initiative, in collaboration with the Bank for International Settlements’ mBridge project, aims to enhance payment efficiency and monetary policy tools, positioning the UAE at the forefront of CBDC adoption.
(Bar chart displays:
- VARA RWA Rules update: May 2025
- RLUSD Stablecoin approval: June 3, 2025
- Digital Dirham CBDC launch: Q4 2025)
(Pie chart shows approximate allocation: Real Estate Investors 40%, Entrepreneurs 30%, Professionals 30%, Crypto Investors 0%)
7. Future Outlook and Implications
The UAE’s swift rebuttal of TON’s Golden Visa assertions highlights its commitment to maintaining regulatory integrity and preventing misinformation. As the nation continues to refine its legal frameworks for tokenization, stablecoins, and CBDCs, stakeholders can expect a balanced environment that promotes innovation while ensuring investor protection. For crypto projects eyeing Middle Eastern expansion, these developments signal both opportunity and the necessity of navigating a rigorous regulatory landscape.
Conclusion
While TON’s Golden Visa proposal has been officially discredited, the UAE’s ongoing regulatory advancements—from RWA tokenization and stablecoin recognition to CBDC deployment and Shariah-compliant crypto banking—underscore a strategic vision: to become a global epicenter for secure, regulated digital asset ecosystems. Investors and blockchain practitioners should monitor official channels, engage with licensed entities, and align offerings with the UAE’s evolving legal standards to capitalize on this burgeoning market.
