Binance co-founder Changpeng "CZ" Zhao backed crypto license passporting across ASEAN on July 28 during a fireside discussion at the ASEAN Tech Summit Manila 2026. Speaking alongside fintech
Binance co-founder Changpeng "CZ" Zhao backed crypto license passporting across ASEAN on July 28 during a fireside discussion at the ASEAN Tech Summit Manila 2026. Speaking alongside fintech leaders and delegates from across the region, Zhao argued that the current patchwork of national licensing regimes is holding the industry back.
Under the proposal, a crypto firm that has already obtained regulatory approval in one ASEAN member state would not be required to restart the full application process in another. Instead, regulators in the receiving country could assess applicants through a simplified review framework, recognising the work already done by their counterparts elsewhere.
CZ said the approach would reduce compliance costs for firms operating across borders and sharpen regional competition by removing friction that currently slows market entry. A common process could also make regional expansion easier for exchanges, custodians, and stablecoin payment providers.
The summit appearance follows a previous visit by Zhao to the Philippines in June, during which he held regulatory discussions with government officials, including Department of Finance Secretary Frederick Go and Securities and Exchange Commission Chairperson Francis Lim.
For now, the idea remains aspirational. Zhao's proposal remains a recommendation for future regional policy rather than an approved licensing route.Any crypto passport would still require negotiations among national regulators, common minimum standards, and an information-sharing system.
ASEAN's Digital Economy Framework Agreement may create another venue for regional cooperation. Negotiations have concluded, and the agreement is undergoing legal review before an expected November 2026 signing, though no published document confirms that crypto license passporting forms part of the agreement.
The push for regional harmonisation comes as crypto firms continue to navigate divergent rules across Southeast Asia's ten member states, each with its own licensing thresholds, timelines, and regulatory bodies. Binance itself has direct experience with fragmented licensing, as the exchange is seeking more approvals across Asia while working through separate national requirements.
Sources:Binance co-founder CZ pushes ASEAN crypto passport (crypto.news)CZ scheduled to join ASEAN Tech Summit fireside chat (BitPinas)
