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Toncoin (TON) price falls by 10%! UAE officials deny association with gold visa program, stake rewards promise questioned.
On July 6, the three major regulatory authorities in the UAE—Identification, Citizenship, Customs and Port Security Authority (ICP), Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA)—issued a joint statement, firmly denying reports that staking Toncoin (TON) would qualify for the country's Golden Visa. Following the clear denial from the UAE regulatory authorities, investor confidence rapidly collapsed, leading to a sharp fall of 10% in the price of Toncoin, completely erasing the gains made earlier due to the Golden Visa news.
TON-1.47%