UAE Denies Toncoin Visa Claims Market Value Drops 10%

UAE authorities have officially denied claims that Toncoin (TON) holders can obtain a golden visa through staking, clarifying immigration policies linked to digital assets. The joint statement from the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), Securities and Commodities Authority (SCA), and Virtual Assets Regulatory Authority (VARA) highlights the absence of any crypto-based residency scheme, emphasizing strict eligibility criteria for long-term visas.

The regulatory bodies warn investors to verify information through official channels to avoid falling prey to misinformation or fraudulent schemes. The agencies reaffirmed that long-term residency visas are granted only to select groups such as real estate investors, entrepreneurs, and individuals with exceptional talents, based on established legal frameworks rather than digital asset ownership.

Following the official denial, Toncoin’s market value experienced a noticeable decline, reflecting investor disappointment over the collapse of expectations tied to the rumored visa program. The SCA emphasized that digital assets are regulated separately from immigration policies, urging investors to exercise caution and seek information exclusively from authorized government sources. This incident underscores the critical need for transparency and due diligence in the rapidly evolving crypto ecosystem.

The Dubai-based Virtual Assets Regulatory Authority (VARA) issued a stern warning regarding the TON project’s licensing status, clarifying that it is not authorized or supervised by the agency. VARA stressed the importance of engaging only with licensed entities to safeguard consumer interests and mitigate risks associated with unregulated virtual asset activities. This advisory aligns with the UAE’s broader regulatory approach aimed at fostering a secure and compliant environment for digital asset transactions, reinforcing the message that no cryptocurrency currently confers immigration privileges.

Authorities concluded their statement by urging investors to remain vigilant against false claims linking cryptocurrencies to immigration benefits. They highlighted that no digital currency, including Toncoin, provides eligibility for UAE visas. The public is encouraged to verify all related information through official government portals and avoid reliance on unverified social media content. This approach is crucial to maintaining market integrity and protecting investors from potential scams or misinformation campaigns.

The UAE’s unified response to the Toncoin visa rumors serves as a critical reminder of the importance of regulatory clarity and investor education in the digital asset space. By firmly rejecting the existence of any crypto-linked residency program, the authorities have reinforced established immigration policies and underscored the need for cautious, informed investment decisions. Moving forward, stakeholders should prioritize official communications and regulatory compliance to navigate the complex intersection of blockchain technology and financial governance effectively.