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CZ Backs Crypto License Passporting System Across ASEAN on July 28

Regulation & Policy Geopolitics

2026-07-28 10:29:04

According to Cointelegraph, Changpeng Zhao, Binance co-founder, publicly backed a crypto license passporting system across ASEAN on July 28 at the ASEAN Tech Summit Manila 2026. CZ proposed that firms already licensed in one member state should face only a streamlined approval process rather than full reapplication to operate across other ASEAN nations. During a fireside chat on "One ASEAN, One Digital Economy," Zhao endorsed the idea of license portability alongside FinTech Alliance PH founding chair Lito Villanueva. Regulators would retain the right to review applicants but with a fundamentally lower threshold than requiring fresh licensing in every market. CZ characterized cross-border regulatory coordination as "mostly a political problem," arguing that underlying technology poses no meaningful obstacle. He contended that enabling more licensed platforms to compete regionally would improve services and reduce costs for consumers.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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