TON coin experienced a 6% dip after the UAE authorities refuted The Open Network's claim that staking $100,000 worth of TON would qualify applicants for a 10-year golden visa. Initially, TON surged to $3.03 following this assertion, but it retraced to $2.84 after the Emirates News Agency published a statement clarifying that such staking does not guarantee residency in the UAE. The UAE’s Federal Authority for Identity, Citizenship, Customs and Port Security, along with other regulatory bodies, emphasized that golden visas are not available for digital asset holders, and investments in digital currencies follow specific regulations unrelated to visa eligibility. This announcement aimed to prevent misinformation and fraud. The golden visa program, launched in 2019, is intended to attract skilled professionals to the UAE, requiring substantial public investments or ownership of recognized startups. The incident highlights the importance of verified information in the cryptocurrency space.

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