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CZ backs crypto license passporting across ASEAN to cut approval costs
Zhao said regulators could still review applicants, but would not require a new full licensing application in each ASEAN member state.
Binance co-founder Changpeng “CZ” Zhao backed a proposal to enable crypto license passporting across ASEAN, arguing that firms authorized in one market should be able to expand into others through a simplified process rather than starting licensing from scratch, Cointelegraph reported.
Speaking Tuesday at the “One ASEAN, One Digital Economy” fireside chat during the ASEAN Tech Summit Manila 2026, Zhao said the idea, raised by FinTech Alliance PH founding chair Lito Villanueva, would reduce compliance costs and encourage competition across ASEAN’s fragmented regulatory regimes.
Zhao said member states currently regulate digital assets separately, creating multiple approval processes for companies seeking a regional presence. He argued cross-border coordination is more of a political issue, and added that allowing more licensed platforms to compete could improve services and lower costs for consumers.
The article noted there is no bloc-wide crypto passport in ASEAN, but referenced other finance arrangements. It cited the ASEAN Capital Markets Forum’s Collective Investment Schemes Framework, which lets funds authorized in their home jurisdiction be offered in participating host jurisdictions through a streamlined authorization process, with early operationalization in Malaysia, Singapore and Thailand in 2014.