CZ Urges ASEAN Crypto License Passporting at Summit

ASEAN already has passporting mechanisms in traditional finance. The ASEAN Capital Markets Forum's Collective Investment Schemes framework lets a fund authorized in one jurisdiction offer shares in others through a streamlined process. The ACMF also runs an adviser passport that gives fast-track registration to eligible investment advisers from participating countries. Zhao said those models show how crypto license passporting could work without weakening oversight.

The push comes as ASEAN explores deeper digital integration. Crypto adoption in the region is rising, and fintech infrastructure is expanding. Zhao's remarks signal that industry leaders see regulatory fragmentation as a barrier to growth. A single license that works across borders would make the region more attractive for crypto firms and investors.

No timeline for any formal proposal was announced at the summit. Zhao said the political nature of cross-border coordination remains the biggest obstacle. The existence of passporting in other financial sectors gives the idea a concrete precedent, he said.