CZ supports ASEAN crypto license passport system

CZ backs a crypto license passporting system in ASEAN, supporting easier market entry for licensed firms and reduced compliance costs across the region.

Binance co-founder Changpeng “CZ” Zhao has voiced support for a crypto license passporting system across the ASEAN region, as discussed at the ASEAN Tech Summit Manila 2026. Zhao backed a proposal from FinTech Alliance PH founding chair Lito Villanueva, which suggests that crypto firms licensed in one ASEAN country should be able to enter other member markets through a simplified approval process, rather than starting new applications in each jurisdiction. Zhao argued that this framework would lower compliance costs, foster competition, and enhance service quality for consumers. He emphasized that while the technology for cross-border coordination is straightforward, achieving political alignment among ASEAN member states remains a challenge. The proposed system would still allow host regulators to review applicants and impose local requirements, but would streamline the process and avoid duplicated filings. Currently, ASEAN lacks a regional mutual recognition mechanism for crypto licenses, though similar arrangements exist in other financial sectors within the bloc.