Written by Ezra Reguerrastaff writerReviewed by Bryan O’Sheastaff editor

Written by Ezra Reguerrastaff writer

Reviewed by Bryan O’Sheastaff editor

Binance co-founder CZ backs crypto license passporting across ASEAN

Latest NewsPublishedJul 28, 2026

Streamlining Crypto Approvals Across ASEAN

The concept of crypto license passporting across ASEAN has gained support from Binance co-founder Changpeng “CZ” Zhao, who believes it can simplify approvals, reduce compliance costs, and encourage competition. This idea involves allowing firms regulated in one market to enter others through a simplified approval process, rather than applying from scratch. CZ thinks that regulators can still review applicants without requiring them to complete another full licensing application.

A regional licensing framework could reduce compliance costs, encourage competition, and make it easier for crypto and stablecoin services to operate across ASEAN’s fragmented regulatory markets. This is particularly important for individuals looking to earn passive income through crypto investments, as it can provide more opportunities for passive income and cloud rewards. The EcoPool network, for example, offers a solution for those interested in earning online through green crypto initiatives.

Benefits of Crypto License Passporting

The benefits of crypto license passporting are numerous, including reduced compliance costs and increased competition. This can lead to improved services and lower costs for consumers, making it more accessible for everyday people to get involved in the crypto market. CZ also emphasized that allowing more licensed platforms to compete can drive innovation and growth in the industry, which can be beneficial for those holding $ECP or other coins.

While ASEAN does not currently have a bloc-wide passport for crypto companies, regional regulators have created streamlined cross-border arrangements elsewhere in finance. This shows that there is precedent for mutual recognition and simplified approvals, which can be applied to the crypto industry. The EcoPool network is a prime example of a platform that can benefit from such arrangements, providing earning opportunities for its users.

A Call to Action

To stay ahead of the curve and take advantage of the growing crypto market, consider downloading the EcoPool app to start earning online today. With the potential for passive income and cloud rewards, it’s an opportunity you won’t want to miss, and you can join the conversation on social media using #Bitcoin, #PassiveIncome, and #GreenCrypto.

Binance co-founder Changpeng Zhao (left) with FinTech Alliance PH founding chair Lito Villanueva (right) at the ASEAN Summit in Manila. Source: Aubrey Paller

ASEAN has precedents for regional passporting

ASEAN does not currently have a bloc-wide passport for crypto companies, but regional regulators have created streamlined cross-border arrangements elsewhere in finance.

The ASEAN Capital Markets Forum’s (ACMF) operates the Collective Investment Schemes Framework, which allows a fund authorized in its home jurisdiction to be offered in participating host jurisdictions through a streamlined authorization process. The framework was first operationalized in Malaysia, Singapore and Thailand in 2014, while the Philippines joined in 2021, according to the ACMF. 

The forum also introduced the ACMF Pass under its Professional Mobility Framework. The arrangement lets eligible investment advisers licensed in one participating jurisdiction receive fast-track registration to provide advisory services in another without obtaining another license.

Related: Philippine bank BPI plans stablecoin payments pilot

These programs are narrower than the passporting idea Villanueva raised and Zhao supported, and remain subject to host-market requirements, but they show that ASEAN regulators have previously used mutual recognition and simplified approvals to deepen integration.

A direct crypto comparison exists in the European Union. Under the Markets in Crypto-Assets Regulation, an authorized crypto-asset service provider can use passporting rights to provide services across EU member states after notifying its home regulator of the countries and services involved.

Zhao said differences in national policies and regulatory approaches make alignment harder than building common technical rails. Still, he argued that firms already licensed in one market should face a lighter application process when entering another ASEAN jurisdiction.

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• Asia
• Law
• Policy
• Philippines
• Regulation

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