Binance CEO Hints at BNB Golden Visa Program, Cautions on Regulation

Changpeng Zhao, the former CEO of Binance, recently sparked a debate within the cryptocurrency community by hinting at the possibility of a golden visa program backed by BNB, the native token of the Binance ecosystem. This idea was inspired by a similar initiative launched by The Open Network (TON), which offered a 10-year residence visa in the United Arab Emirates in exchange for staking $100,000 in Toncoin and paying a $35,000 processing fee. The TON program promised a yield of 3 to 4% per year and a fast procedure, but it received no validation from Emirati authorities.

In response to the TON announcement, CZ reacted cautiously, questioning the veracity of the program while hinting that a similar model could be considered for BNB. He emphasized the need for any such initiative to be supported by a government partnership and to be the subject of an official announcement. CZ's stance contrasts with the approach taken by TON, which appears to have anticipated regulatory approval. CZ, who personally received an official golden visa when settling in Dubai, understands the administrative mechanisms from inside and knows that this type of program cannot be launched without a clear legal framework or explicit approval from a supervisory authority.

By publicly mentioning the idea without formally announcing it, CZ sends a signal that Binance, whose unrealized profits on bitcoin are soaring, wants to innovate in this area but will not cross the line without certification. In the medium term, if such an initiative were to materialize, it could reshuffle the cards in the competition among blockchains to attract high net worth individuals to areas like the United Arab Emirates. However, the swift reaction of the authorities shows that the use of the term “Golden Visa” for marketing purposes will no longer be tolerated without regulation. Binance, whose reputation is already under international scrutiny, cannot afford to make a mistake on such a sensitive topic.