- Binance co-founder Changpeng “CZ” Zhao endorsed crypto license passporting across ASEAN to simplify market entry for regulated firms.
- Zhao argued that regulators should not require a full licensing application from firms already approved in one member state, calling the lack of coordination a “political problem.”
- ASEAN already has precedents for streamlined cross-border financial arrangements, such as the ACMF’s Collective Investment Schemes Framework and the ACMF Pass.
- The European Union’s MiCA regulation offers a direct comparison, allowing authorized crypto firms to passport services across member states.
Binance co-founder Changpeng “CZ” Zhao backed crypto license passporting across ASEAN during a fireside chat Tuesday at the ASEAN Tech Summit Manila 2026. Zhao argued that firms regulated in one market should enter others through a simplified approval process rather than applying from scratch.
He supported an idea raised by FinTech Alliance PH founding chair Lito Villanueva for regulatory passporting or license portability. Zhao said regulators could still review applicants but should not require another full licensing application.
A regional framework could reduce compliance costs and encourage competition across ASEAN’s fragmented regulatory markets. Member states regulate digital assets separately, creating multiple approval processes for companies seeking a regional presence.
“I think that’s mostly a political problem,” Zhao said of cross-border coordination, adding that the technology was simple. He said allowing more licensed platforms to compete could improve services and lower costs for consumers.
ASEAN does not currently have a bloc-wide passport for crypto companies, but regional regulators have created streamlined arrangements elsewhere. The ASEAN Capital Markets Forum’s Collective Investment Schemes Framework allows a fund authorized in its home jurisdiction to be offered in participating countries through a streamlined process.
The forum also introduced the ACMF Pass, which lets eligible investment advisers licensed in one jurisdiction receive fast-track registration in another without obtaining a new license. These programs are narrower than the passporting idea Villanueva raised, but they show ASEAN regulators have previously used mutual recognition to deepen integration.
A direct crypto comparison exists in the European Union under the Markets in Crypto-Assets Regulation. An authorized crypto-asset service provider can use passporting rights across EU member states after notifying its home regulator.
Zhao said differences in national policies make alignment harder than building common technical rails. Still, he argued that firms already licensed in one market should face a lighter application process when entering another ASEAN jurisdiction.
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