Changpeng Zhao, former CEO of Binance, has expressed skepticism regarding The Open Network's new proposal for UAE residency, specifically the offer of a 10-year Golden Visa for those who stake at least $100,000 worth of Toncoin for three years and pay a $35,000 processing fee. Zhao highlighted the lack of official announcements from UAE government sources, raising concerns about the program's legitimacy. Despite some confirmation from Telegram CEO Pavel Durov, Zhao urged caution, preferring to verify such claims. Following the announcement, the price of Toncoin surged over 11%. Cointelegraph attempted to verify the offer but found no related announcements from relevant UAE authorities, suggesting the information remained unconfirmed. The UAE has been positioning itself as a leader in crypto and blockchain adoption, with many initiatives aimed at creating favorable environments for decentralized finance and Web3 projects, underscoring the significance of regulatory clarity in such developments.

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