CZ Backs ASEAN Crypto Passport for Simplified Regional Expansion

Binance co-founder Changpeng 'CZ' Zhao has backed the idea of introducing a simplified crypto license passport across ASEAN, which would allow regulated firms to avoid full repeat applications regionally.

The proposal, raised by FinTech Alliance PH founding chair Lito Villanueva, suggests that a company licensed in one ASEAN jurisdiction could seek simplified approval elsewhere instead of submitting another complete application. This would still allow host regulators to assess applicants and impose local conditions.

Zhao argued that recognising some work completed by another regulator could reduce duplicated filings and lower market-entry costs for crypto companies operating across Southeast Asia, who currently face separate licensing processes, compliance checks, and supervisory requirements.