{"id":45644,"date":"2025-07-07T13:13:28","date_gmt":"2025-07-07T10:13:28","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=45644"},"modified":"2025-07-07T13:13:28","modified_gmt":"2025-07-07T10:13:28","slug":"golden-visa-promise-spurs-rise-uae-denies-market-reacts","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/golden-visa-promise-spurs-rise-uae-denies-market-reacts\/","title":{"rendered":"Golden Visa Promise Spurs Rise, UAE Denies: Market Reacts!"},"content":{"rendered":"

A significant development occurred in the crypto market on July 6. The United Arab Emirates (UAE)<\/strong> authorities officially denied the Golden Visa<\/strong><\/a> news related to Toncoin<\/strong>. Following this statement, Toncoin\u2019s price sharply fell by 10%<\/strong>. Investors started to question the reliability of the previously announced staking program.<\/span>\u00a0<\/span><\/p>\n

Toncoin\u2019s official website promoted a campaign promising investors a 10-year UAE Golden Visa<\/strong> by investing $100,000<\/strong> worth of TON<\/strong> and paying a $35,000 processing fee. However, this announcement quickly collapsed after statements from three major UAE regulators.<\/span>\u00a0<\/span><\/p>\n

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Table of Contents<\/p>\nToggle<\/span><\/path><\/svg><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n

  • UAE Authorities: \u201cNo Official Connection\u201d\u00a0<\/a><\/li>
  • Investor Confidence Shaken: Toncoin Experiences Sharp Pullback\u00a0<\/a><\/li><\/ul><\/nav><\/div>\n

    <\/span>UAE Authorities: \u201cNo Official Connection\u201d<\/span>\u00a0<\/span><\/span><\/h2>\n

    The Federal Authority for Identity and Citizenship<\/strong> (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) issued a joint statement declaring that this campaign has no official backing. VARA<\/strong> specifically stated that Toncoin is unregulated and emphasized that the visa system is unrelated to digital assets.<\/span>\u00a0<\/span><\/p>\n

    ICP further explained that the Golden Visa program only targets contributions in specific fields. Digital asset investments do not fall within this scope, unlike areas such as science, entrepreneurship, real estate investment, and humanitarian work.<\/span>\u00a0<\/span><\/p>\n

    Meanwhile, Binance founder Changpeng Zhao (CZ)<\/strong> responded to the situation. On social media platform X, he pointed out contradictions in the Ton Foundation\u2019s statements and questioned why no official government endorsement was released.<\/span>\u00a0<\/span><\/p>\n

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    I am a supporter of Durov, especially given his current situation.<\/p>\n

    But I like to "trust but verify".<\/p>\n

    I'd expect something like this to have a government partnership, and announcement.<\/p>\n

    It might still be true, just saying I haven't been able to verify.<\/p>\n

    — CZ \ud83d\udd36 BNB (@cz_binance) July 6, 2025<\/a><\/p><\/blockquote>\n