Toncoin Visa Dreams Crumble as UAE Says No – Binance’s CZ Walks Away

Dubai slams the door on Toncoin's crypto-powered Visa ambitions—just as Binance's Changpeng Zhao loses interest. Another 'real-world utility' fantasy meets regulatory reality.

When hype collides with bureaucracy, guess which one bleeds? The UAE's financial gatekeepers just handed Toncoin a brutal lesson in compliance theater. Meanwhile, CZ's sudden disengagement speaks volumes—when even crypto's biggest bull won't touch your project, it's time to check the pulse.

Funny how these 'game-changing partnerships' always seem to evaporate after the PR cycle ends. Maybe next time, try building before announcing?

TLDR

• The TON Foundation announced a staking program promising 10-year UAE visas for $100,000 in Toncoin.
• UAE authorities officially denied any connection to the Toncoin visa offer and confirmed it is not government-approved.
• The announcement gained traction after Binance founder CZ expressed interest in a similar idea for BNB Chain.
• CZ later dismissed the Toncoin campaign after verifying its lack of official backing and regulatory approval.
• The Toncoin website continues to promote the program despite backlash from the community and UAE officials.

A recent Toncoin announcement has drawn global attention, only to be swiftly dismissed by UAE officials as false. The TON Foundation promoted a program offering 10-year UAE visas in exchange for staking $100,000 in Toncoin. Authorities have denied any association, confirming there is no official partnership or approval for such a scheme.

Toncoin’s Bold Claim Faces Immediate Rejection

Toncoin’s announcement circulated on July 5, drawing strong reactions across the crypto industry and social platforms. The TON Foundation promoted guaranteed returns, low risk, and UAE residency through a staking program. However, UAE regulators have stated there is no such visa path linked to staking Toncoin.

Following the claim, the Emirates News Agency issued a public statement denying any government-backed involvement with Toncoin. Officials clarified the token lacks regulatory approval and cannot serve as a basis for visa grants. As a result, the announcement has now come under heavy scrutiny.

Toncoin continues to promote the initiative online, while the foundation has made no retraction. Despite public disapproval, the related webpage remains active. UAE authorities have also reiterated that such offerings violate local policy and regulations.

CZ Reacts as Toncoin Undermines Trust

Binance founder Changpeng Zhao, also known as CZ, initially welcomed the Toncoin initiative as an exciting idea. Operating from the UAE, CZ considered a similar program for BNB Chain. He acknowledged the concept’s potential but questioned its credibility due to the lack of official verification.

If it is real, we will definitely try to get it on BNB too.

— CZ 🔶 BNB (@cz_binance) July 6, 2025

After confirming the UAE’s stance, CZ labeled Toncoin’s campaign as misleading and excessive. He noted several inconsistencies, including the absence of legal or government documents. In response to the clarification, CZ shared a public reaction dismissing the program entirely.