CZ backs ASEAN-wide crypto licence passporting
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- Binance co-founder Changpeng Zhao has called for a crypto licence passporting system across ASEAN.
- He said a shared framework could make it easier for regulated firms to operate across the region.
- Zhao believes closer regulatory cooperation could support the growth of the digital asset industry.
Binance co-founder Changpeng Zhao, known as CZ, has backed a crypto licence passporting system across the Association of Southeast Asian Nations (ASEAN).
CZ said a shared licensing framework would allow regulated crypto companies to operate more easily across multiple ASEAN member countries.
He argued that greater regulatory cooperation could reduce compliance barriers while maintaining oversight of the digital asset industry.
A passporting system would allow firms licensed in one participating country to offer services in other member states, subject to agreed rules.
CZ said the approach could encourage innovation and improve access to regulated crypto products across the region.
ASEAN countries are developing crypto regulations at different speeds, with jurisdictions such as Singapore and Thailand already operating licensing regimes.
CZ's comments come as policymakers continue exploring ways to balance innovation, consumer protection and regulatory consistency in the digital asset sector.