Former Binance chief Changpeng “CZ” Zhao is questioning whether a new crypto-linked pathway to UAE residency is legitimate, pointing out that no official government source has confirmed the details.
Over the weekend, The Open Network claimed that anyone who stakes at least $100,000 worth of Toncoin (TON) for three years — and pays a $35,000 processing fee — could secure a 10-year UAE Golden Visa in under seven weeks, as reported by Cointelegraph.
CZ responded on X, asking, “Is this real? It would be awesome IF it is true. But I got conflicting info so far.” He also noted there were no UAE government websites reflecting the offer, and no clear mention of which agency, if any, approved it.
Though some social media users referenced Telegram CEO Pavel Durov’s support — he reposted the announcement via crypto influencer Ash Crypto — CZ remained cautious, saying he prefers to “trust but verify.”
He’s not unfamiliar with UAE residency requirements. CZ received his own Golden Visa after moving to the country. But even with his connections, he said the lack of clarity raised concerns.
Despite the uncertainty, the announcement was enough to move the market. TON’s price jumped over 11% in a matter of hours, according to CoinMarketCap.
Later, Cointelegraph noted that no confirmation appeared on official websites — including those of the Securities and Commodities Authority (SCA), Ras Al Khaimah Emirate DAO, Virtual Asset Regulatory Authority (VARA), or the Abu Dhabi Global Market Authority — as of Sunday afternoon.
Soon after, UAE regulators addressed the rumours directly. The country’s Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), along with VARA and the SCA, issued a joint statement denying that crypto investors are eligible for Golden Visas.
“The ICP clarified that golden visas are issued according to clear and officially approved frameworks and criteria, which do not include digital currency investors,” the statement read. Eligible applicants include property investors, business owners, top students and graduates, scientists, and frontline workers.
VARA also warned investors to only work with licensed and regulated firms when dealing with crypto-related services.
A fast-moving crypto hub
The UAE has become one of the more active players in crypto and blockchain development, with regulations and infrastructure that make it easier for DeFi and Web3 firms to operate.
At Token2049 Dubai — which CZ attended — speakers pointed to the UAE’s efforts to support blockchain use beyond digital currencies.
One example is the country’s new Machine Economy Free Zone. The initiative, launched with blockchain platform peaq, aims to reward users with a share of machine-generated revenues. The pilot focuses on decentralised physical infrastructure networks, or DePINs, and looks to test real-world use cases for token-based incentives.
Separately, Dubai has moved into tokenised real estate. A recent project — said to be the first licensed one of its kind in the Middle East and North Africa — involves the Dubai Land Department, the Dubai Futures Foundation, and the Central Bank of the UAE.
That effort came alongside a $3 billion blockchain real estate deal in May, which coincided with a spike in Dubai’s property sales.
(Photo by Mariia Shalabaieva)
See also: SEC drops charges against Binance, closing major case
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