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- CZ says Binance may explore BNB visa if officially approved by UAE authorities.
- UAE regulators deny Toncoin’s Golden Visa claims, citing no crypto-based eligibility.
- TON lacks licensing from Dubai’s VARA, raising doubts about the program’s legitimacy.
Toncoin’s recent claim of offering a path to the UAE Golden Visa through crypto staking created significant excitement online. The idea gained momentum after being promoted on TON’s official website and endorsed by Telegram CEO Pavel Durov.
UAE authorities noted that this information was misguided and lacked any federal immigration policy. They made it clear that investing in digital assets is not an acceptable path to acquiring the Golden Visa.
The Golden Visa in the UAE has official categories to which they are entitled. These are entrepreneurs, real estate investors, students with excellent records, scientists, and persons with specialized capabilities.
Furthermore, the Federal Authority for Identity, Citizenship, Customs and Port Security teamed up with the Securities and Commodities Authority and the Virtual Assets Regulatory Authority in Dubai to produce a joint statement. Its agencies rejected the existence of any crypto-backed visa program and encouraged users not to use unofficial platforms.
TON also did not provide licenses to local regulators such as VARA or ADGM, which increased doubts regarding the authenticity of the whole program being marketed under the Toncoin brand.
CZ Hints at BNB Residency Option if Fully Backed by Authorities
Binance founder Changpeng Zhao commented on the matter in a post on X. He explained that while the idea was intriguing, it had to be genuine and endorsed by the authority.
According to CZ, Binance might also look into a similar possibility connected with BNB staking. However, this could only occur if the model is licensed by legitimate government agencies.
He mentioned VARA, SCA, and ADGM as the institutions that had to give credibility to such a program. Binance would not proceed with any visa-based project without their support.
Certain reports indicated that the Toncoin program was selling paid forwarding, not a government-approved route. According to others, some local authorities approved the program but not the federal government.
Even though TON experienced a price surge in the short run after the announcement, interest lowered once the government rejected the claim. UAE authorities reiterated their caution on the dissemination and communication of illegal offers of residences.
The reaction (by the UAE) marks a very thick line between restricted immigration policy and crypto offerings. Some laws have to be followed before Binance can move.
Also Read: SHIB Burn Frenzy: 27 Million Tokens Destroyed in 24 Hours
