Toncoin (TON) price falls by 10%! UAE officials deny association with gold visa program, stake rewards promise questioned.

UAE Regulatory Joint Statement: Golden Visa is Not Related to Crypto Assets Stake On July 6, the three major regulatory agencies in the UAE — the Identity, Citizenship, Customs and Port Security Authority (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) issued a joint statement, strongly denying reports that staking Toncoin (TON) would qualify for the country's Golden Visa.

• ICP Clear Rules: Golden visas are issued only based on specific criteria, focusing on areas such as real estate, technology, entrepreneurship, and humanitarian work. Crypto Assets investment does not meet the application criteria.
• SCA and VARA draw a clear line: Digital assets follow independent regulations, and are not related to the golden visa system.
• VARA Key Statement: TON has not obtained the license or regulatory approval issued by it, and any promotion linking it to the visa program is unauthorized.

Ton Foundation promotion event fails, gold visa promises criticized as misleading Previously, the Ton Foundation's official website launched a promotional campaign, claiming that users who stake at least $100,000 worth of TON tokens would be eligible to apply for a UAE Golden Visa. This news briefly stimulated the price of TON to surge by 12%.

CZ strongly questioned the legality of the event, pointing out that there are contradictions in its announcement information, and it lacks official press release support from the UAE government.

Regulatory crackdown triggers a trust crisis, Toncoin price plummets by 10% Once the clear denial statement from the UAE regulatory authorities was released, investor confidence quickly collapsed, leading to a rapid 10% drop in Toncoin prices, completely erasing the gains made earlier due to the gold visa news.

• Market Reaction is Intense: Investors have serious doubts about the authenticity of the Ton Foundation's statement and are concerned about misleading promotion in its marketing activities.
• Panic selling emerges: In the absence of official endorsement, a large number of holders choose to sell TON tokens to hedge.

Investor Warning: Beware of Crypto Assets-related Immigration Promise Scams The UAE authorities urge the public to obtain accurate information through official channels and remain vigilant against unverified online offers, especially those involving immigration benefits in Crypto Assets projects.

Key Lesson: This incident highlights the critical importance of transparency and regulatory compliance in the Crypto Assets space. Investors should remain highly vigilant regarding commitments that bundle token staking, investment returns, and tangible benefits (such as residency rights), and must verify official information sources to avoid falling into potential scams or market manipulation traps.

Gate market shows that TON is currently priced at $2.792, down 6.3% in the last 24 hours.