CZ Questions TON’s UAE Golden Visa Claim After Official Denial

Key Takeaways

• The Open Network announced UAE Golden Visa program for those staking minimum $100,000 TON for 3 years
• CZ questions program legitimacy due to lack of official announcement from UAE government
• TON price surged 11% following the announcement
• UAE regulatory authorities officially denied issuing Golden Visas to cryptocurrency investors

Update: This article now includes UAE regulators’ official denial of Golden Visas for crypto investors.

Former Binance CEO Changpeng “CZ” Zhao has cast doubt on The Open Network’s newly announced UAE residency pathway, highlighting the absence of any official UAE government confirmation.

As Cointelegraph reported, TON claimed on Saturday that staking $100,000 worth of Toncoin (TON) for three years plus a $35,000 fee would secure a 10-year Golden Visa, reportedly obtainable within seven weeks.

“Is this real?” CZ questioned on X, reacting to the announcement. “It would be awesome IF it is true. But I got conflicting info so far,” he added, noting no official government websites referenced the “stake TON for golden visa” program.

CZ is familiar with the UAE’s residency requirements, having received a Golden Visa when he first arrived in the country.

In response to CZ’s post, some X users pointed out that Telegram CEO Pavel Durov has confirmed the news. Durov reposted the announcement on X from crypto influencer Ash Crypto. Even so, CZ had reservations, stating he likes to “trust but verify.”

Nevertheless, the announcement was enough to send TON’s price sharply higher, with the token rallying more than 11% within a few hours, according to CoinMarketCap.

Cointelegraph couldn’t verify the announcement, as no details appeared on the official websites of Ras Al Khaimah Emirate DAO, the Securities and Commodities Authority (SCA), the Virtual Asset Regulatory Authority (VARA), or the Abu Dhabi Global Market as of Sunday afternoon.

Shortly after the report gained traction, UAE regulators—including the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), SCA, and VARA—stepped in with a joint statement denying any link between golden visas and cryptocurrency investments.

The ICP made it clear: golden visas follow strict, approved criteria, and owning digital assets doesn’t qualify. Instead, the program targets real estate investors, entrepreneurs, top talent, scientists, exceptional students, humanitarian figures, and frontline workers.

VARA also strongly asked investors to work only with licensed and regulated firms when dealing with virtual assets, highlighting the importance of due diligence in a fast-moving and often speculative market.

UAE has become a leading crypto and blockchain hub

The UAE is quickly establishing itself as a leading global hub for cryptocurrency adoption and blockchain innovation, fueled by supportive regulations, strong government backing, and infrastructure that actively encourages the growth of DeFi and Web3 projects.

These strengths took center stage at the recent TOKEN2049 conference in Dubai, which saw attendance from major industry figures, including Binance founder CZ. As highlighted by Cointelegraph, the country continues to push boundaries with initiatives like the Machine Economy Free Zone—a new sandbox exploring the convergence of robotics, artificial intelligence, and decentralization.

Developed in collaboration with layer-1 blockchain platform peaq, this initiative aims to reward tokenholders with a share of revenue generated by machine-driven activities, while also advancing real-world applications for decentralized physical infrastructure (DePIN) networks.

At the same time, the UAE is making bold moves in the tokenized real estate space. Dubai recently launched the region’s first licensed tokenized property project, a joint effort between the Central Bank of the UAE, the Dubai Futures Foundation, and the Dubai Land Department. This push toward on-chain real estate culminated in a $3 billion blockchain-based deal in May, contributing to a notable surge in property sales.

Through these efforts, the UAE is not just embracing blockchain, it’s shaping the future of its real-world integration.