UAE Officials Squash Toncoin Visa Rumors: Don’t Believe Everything You Hear on the Blockchain!

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🚨 BREAKING NEWS 🚨 The UAE has officially debunked the Toncoin Visa Scheme, leaving crypto enthusiasts in a state of utter confusion and disappointment. 😱

In a joint statement, the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Dubai-based Virtual Assets Regulatory Authority (VARA) made it crystal clear that no such crypto-linked residency program exists. 😒

Apparently, only real estate investors, entrepreneurs, and individuals with exceptional skills are eligible for long-term visas under established criteria. 😒

As a result of this announcement, Toncoin’s market value took a nosedive, reflecting investor disappointment over the retraction of what many believed was a groundbreaking initiative connecting blockchain and immigration policy. 📉

The SCA reminded the public that digital assets fall under distinct regulatory frameworks and do not influence eligibility for immigration benefits. They urged the public to verify such information through official channels to avoid falling victim to misinformation or fraud. 🚨

Meanwhile, VARA went a step further, warning that the TON project is not licensed or overseen by the authority. The agency stressed the importance of transacting only through authorized firms to ensure consumer safety, especially in the fast-growing virtual asset sector. 🚨

Authorities concluded with a strong advisory: no digital currency—Toncoin included—grants access to immigration benefits in the UAE. Investors should remain cautious and rely solely on government-issued guidance for matters involving visas and financial investments. 🚨

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2025-07-07 13:34