Binance's CZ Wants One Crypto License to Work Across All of Southeast Asia — Here's What That Could Mean
4h ago · 1 source
Binance co-founder Changpeng Zhao (CZ) has publicly endorsed the concept of crypto license passporting across ASEAN nations. The idea would allow a crypto company licensed in one Southeast Asian country to operate across the entire bloc without needing separate approvals in each nation. This mirrors similar frameworks used in the European Union for financial services.
WHY IT MATTERS
Imagine you get a driver's license in one U.S. state and it works in all 50 states — you don't need to take a new test everywhere you go. Right now, crypto companies in Southeast Asia face the opposite situation: they need a separate license in each country to legally operate there. CZ is pushing for a system where one crypto license would be valid across all ASEAN countries (like Singapore, Thailand, and Indonesia). If this happens, it could make it much easier and cheaper for crypto companies to serve hundreds of millions of people in the region, potentially leading to more competition, better services, and wider access to crypto for everyday users.
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