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TechBinance's CZ proposes 'crypto passport' to ease cross-Asian crypto operations
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Changpeng 'CZ' Zhao, co-founder of Binance, promoted a 'crypto passport' concept at the ASEAN Tech Summit Manila 2026 in the Philippines. The passport would allow crypto companies licensed in one Asian nation to operate across the region with simplified regulatory approvals, reducing duplicate filings and market-entry costs. CZ argued that recognizing work completed by other regulators could ease expansion for exchanges, custodians, and stablecoin providers. Currently, no Asian regulator or governance body has announced such a passport or target date. The comments come as Binance seeks more regulatory approvals across Asia, where digital asset laws vary by country. Bitcoin was trading at $62,950 at the time of reporting.
Source report
CryptoProwl Tue, July 28, 2026 at 7:44 AM PDT | 1 min read
- BTC: -2.63%
Binance co-founder and Canadian entrepreneur Changpeng "CZ" Zhao is promoting a new "crypto passport" designed for use across Asia.
CZ discussed the concept and how it would function during a session at the ASEAN Tech Summit Manila 2026, held in the Philippines. The discussion covered digital assets, stablecoins, and the future of regional finance.
Key Points
- CZ, who is from Vancouver, said he supports a proposal to grant crypto companies licensed in one Asian nation a "passport" that would simplify regulatory approvals elsewhere in the region.
- The passports would effectively allow crypto companies to operate in every Asian market.
- Crypto companies in Southeast Asia currently face separate licensing processes, compliance checks, and supervisory requirements.
- CZ argued that recognizing work already completed by one regulator could reduce duplicate filings and lower market-entry costs.
- A common process could also make regional expansion easier for crypto exchanges, custodians, and stablecoin payment providers.
Current Status
To date, no regulator or governance body in Asia has announced a crypto passport or a target date for such a product.
CZ’s comments come as Binance, a crypto exchange, seeks more regulatory approvals across Asia. Currently, different countries in the region regulate digital assets through different laws, agencies, and product classifications, with a focus on capital reserves, cybersecurity, custody, and disclosures.
Binance is privately held, and its stock does not trade on a public exchange.
Bitcoin (CRYPTO: BTC), the largest cryptocurrency, is trading at $62,950 U.S. as of July 28.
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Source
Yahoo FinanceNeutral / independent
Part of this Story
Binance's CZ Promotes 'Crypto Passport' for Cross-Border Licensing in Asia