Toncoin Faces Downturn as UAE Reportedly Rejects Golden Visa for Stakers

Toncoin experienced a significant price decline following reports that the United Arab Emirates has reportedly scrapped its golden visa program for Toncoin stakers. This announcement triggered panic among investors and stakers, leading to widespread selling and a sharp drop in the cryptocurrency’s value. The action by UAE authorities is attributed to concerns regarding financial stability and regulatory compliance, as the government aims to ensure the integrity of the financial system and safeguard investors from potential risks associated with cryptocurrencies. This development comes at a time when several nations are contemplating cryptocurrency regulations, creating uncertainty about the digital asset’s future in the region.