Binance CZ Backs Regional Crypto Passporting Across ASEAN
Binance co-founder Changpeng Zhao is backing an initiative to simplify crypto regulation across ASEAN. He supports 'passporting', allowing companies already licensed in one market to easily enter others without repeating the full application process.
Regulators could still review applicants, but wouldn't require them to start from scratch. This regional licensing framework would reduce compliance costs and encourage competition among crypto services. Zhao believes this is a 'political problem' rather than a technological one, with the tech being 'simple'. He thinks allowing more licensed platforms to compete will improve services and lower costs for consumers.
Zhao made his comments during the 'One ASEAN, One Digital Economy' fireside chat at the ASEAN Tech Summit Manila 2026. FinTech Alliance PH founding chair Lito Villanueva had previously suggested regulatory passporting or license portability. ASEAN has precedents for regional passporting in finance, but not currently for crypto companies.
The ASEAN Capital Markets Forum operates a Collective Investment Schemes Framework and the ACMF Pass under its Professional Mobility Framework. These programs allow mutual recognition and simplified approvals, demonstrating that ASEAN regulators have used these approaches to deepen integration before. A direct comparison exists in the European Union's Markets in Crypto-Assets Regulation.