• The idyllic island nation of Palau offers a digital residency program for $248.
• Binance’s founder initially supported the program but later distanced itself.
• Traders claim success in using Palau identification to skirt country-specific bans.

The idyllic island nation of Palau, renowned for its mesmerizing diving spots, has become a hotspot for digital residency, according to a recent finding by Wall Street Journals (WSJ).

For a mere $248, individuals can acquire a one-year “digital residency” in Palau without ever setting foot on the island, the report highlighted. This unconventional residency option has attracted the attention of crypto traders seeking alternative pathways to access crypto platforms prohibited in their home countries.

According to WSJ, the Binance exchange CEO Changpeng Zhao initially supported Palau’s digital residency program. However, Binance has since distanced itself from the initiative, stating that it severed ties after conducting due diligence.

Launched in January 2022, Palau’s digital residency technology platform, RNS, offers physical and digital identity cards. Applicants must undergo anti-money laundering checks, p…

The post Crypto Seekers Flock Palau ‘Digital Residency’ to Access Banned Sites appeared first on Coin Edition.

• The idyllic island nation of Palau offers a digital residency program for $248.
• Binance’s founder initially supported the program but later distanced itself.
• Traders claim success in using Palau identification to skirt country-specific bans.

The idyllic island nation of Palau, renowned for its mesmerizing diving spots, has become a hotspot for digital residency, according to a recent finding by Wall Street Journals (WSJ).

For a mere $248, individuals can acquire a one-year “digital residency” in Palau without ever setting foot on the island, the report highlighted. This unconventional residency option has attracted the attention of crypto traders seeking alternative pathways to access crypto platforms prohibited in their home countries.

According to WSJ, the Binance exchange CEO Changpeng Zhao initially supported Palau’s digital residency program. However, Binance has since distanced itself from the initiative, stating that it severed ties after conducting due diligence.

Launched in January 2022, Palau’s digital residency technology platform, RNS, offers physical and digital identity cards. Applicants must undergo anti-money laundering checks, p…

The post Crypto Seekers Flock Palau ‘Digital Residency’ to Access Banned Sites appeared first on Coin Edition.