TL;DR
- Regional Proposal: CZ backed Crypto License Passporting to let firms licensed in one ASEAN market enter others through simplified approvals, reducing duplication and easing regional expansion.
- Existing Models: The ACMF’s cross-border fund and adviser frameworks show how streamlined authorization could support Crypto Passporting without requiring full relicensing.
- Market Impact: Zhao said Crypto License Passporting would lower compliance costs, boost competition and improve consumer services across ASEAN’s fragmented regulatory landscape, aligning with broader digital economy goals.
Binance co-founder Changpeng “CZ” Zhao urged ASEAN regulators to adopt a unified model for Crypto License Passporting, arguing that companies already vetted in one jurisdiction should be able to enter others through a simplified approval process. Speaking at the ASEAN Tech Summit Manila 2026, Zhao said the region’s fragmented rules slow down innovation and create unnecessary duplication for firms seeking broader market access.
Push for a Unified Regional Framework
Zhao endorsed a proposal raised by FinTech Alliance PH founding chair Lito Villanueva, who called for regulatory passporting or license portability across the bloc. Zhao said Crypto License Passporting would still allow regulators to review applicants but would eliminate the need for companies to restart full licensing procedures. He added that the political nature of cross-border coordination remains the biggest obstacle, not the underlying technology.
A regional system for Crypto License Passporting could lower compliance costs, encourage competition and help crypto and stablecoin platforms operate more efficiently across ASEAN. Today, member states regulate digital assets independently, forcing companies to navigate multiple approval processes. Zhao argued that allowing more licensed platforms to compete through Crypto License Passporting could improve services and reduce costs for consumers.
Existing Models Show Feasibility
ASEAN does not yet have a bloc-wide passport for crypto firms, but the region has implemented similar mechanisms in traditional finance. The ASEAN Capital Markets Forum’s Collective Investment Schemes Framework allows a fund authorized in one jurisdiction to be offered in others through a streamlined process. This model demonstrates how Crypto License Passporting could work without compromising regulatory oversight. The ACMF also introduced the ACMF Pass under its Professional Mobility Framework, enabling eligible investment advisers licensed in one participating jurisdiction to receive fast-track registration in another. These precedents highlight how Crypto License Passporting could be adapted for digital assets, offering a practical path toward regional harmonization.
Momentum Builds Across ASEAN
Zhao’s remarks signal growing interest in Crypto License Passporting as ASEAN explores deeper digital integration. With rising crypto adoption and expanding fintech infrastructure, regional leaders are increasingly considering frameworks that reduce friction and support cross-border growth. For Zhao, Crypto License Passporting represents a straightforward way to strengthen market access and accelerate the region’s digital economy.
