Recently, the native encryption asset of The Open Network (TON), Toncoin, experienced a dramatic price fluctuation. Within 24 hours, Toncoin first saw a big pump of 10%, followed by a drop of 6%. All of this stemmed from a controversial statement regarding the UAE gold visa.

The TON network once announced that investors who stake $100,000 in Toncoin and pay a $35,000 fee would be eligible for a 10-year gold visa in the UAE. This news temporarily drove the price of Toncoin up to $3.03. However, the good times didn't last long.

The UAE officials quickly responded to this. The UAE News Agency released a joint announcement from multiple regulatory bodies, clearly denying the claims made by the TON network. The Federal Authority for Identity, Citizenship, Customs and Port Security, the Securities and Commodities Authority, and the Virtual Assets Regulatory Authority unanimously stated that golden visas would not be issued for holding digital assets.

Regulatory authorities emphasize that digital currency investments are subject to specific regulations and are completely unrelated to gold visa eligibility. They also specifically remind investors to obtain information through reliable official channels to prevent being misled or deceived.

After the release of this clarification announcement, the price of Toncoin immediately fell back, currently trading at around 2.84 dollars. Although Telegram's CEO Pavel Durov had shared the relevant announcement on social media, he has not made any official statement regarding this matter.

The UAE's golden visa program has always attracted attention, providing long-term residency to eligible foreigners. However, this incident clearly indicates that cryptocurrency investment is not among the requirements for obtaining a golden visa.

This event once again highlights the Fluctuation of the Crypto Assets market and the importance of official information verification. It also reminds investors to be especially cautious when making significant decisions, particularly when it involves sensitive topics such as cross-border investments and residency rights. In the future, the relationship between the Crypto Assets industry and traditional financial systems, as well as the policies of various countries, may continue to be a focal point of market attention.