Zhao Backs Crypto License Passporting Across ASEAN

Binance co-founder Changpeng 'CZ' Zhao supports the idea of passporting licenses across the Association of Southeast Asian Nations (ASEAN) for cryptocurrency companies.

Speaking at the ASEAN Tech Summit Manila 2026, Zhao argued that firms already licensed in one market should face a lighter application process when entering another ASEAN jurisdiction. This would reduce compliance costs and encourage competition among crypto services.

Zhao noted that regional regulators have previously used mutual recognition and simplified approvals to deepen integration within the region. He cited examples such as the Collective Investment Schemes Framework, which allows funds authorized in one country to be offered in participating host jurisdictions through a streamlined process.

The European Union has a similar framework under the Markets in Crypto-Assets Regulation (MiCA), where authorized crypto service providers can use passporting rights to provide services across EU member states. Zhao emphasized that alignment among national policies and regulatory approaches makes common technical rails harder to build, but still advocates for a lighter application process for already licensed firms.