Changpeng Zhao Supports ASEAN Cryptocurrency License Passport System

July 28th news, according to Cointelegraph, Binance co-founder Changpeng Zhao stated at the ASEAN Technology Summit Manila 2026 that he supports the mutual recognition of crypto licenses within the ASEAN region, believing that companies regulated in one market should be able to enter other markets through simplified approval processes, rather than applying from scratch. He pointed out that cross-regional coordination is technically simple and allowing more licensed platforms to compete can improve services and reduce consumer costs. This proposal was put forward by Lito Villanueva, founding chairman of the Fintech Alliance of the Philippines. Currently, ASEAN does not have a regional mutual recognition mechanism for crypto licenses, but there are precedents—the collective investment scheme framework of the ASEAN Capital Markets Forum allows funds to be simplified and authorized for issuance in participating countries after being approved in their home country, and the ACMF Pass under the professional mobility framework allows licensed investment advisors to quickly register to provide cross-border services.