Binance founder Changpeng Zhao said he supports the creation of an ASEAN-wide regulatory passport for crypto companies, a framework that would let a firm licensed in one jurisdiction expand more easily into other member states. The proposal is aimed at cutting repeated licensing applications across different countries and making cross-border compliance less cumbersome for businesses operating in the region. According to the report cited by Techub News, regulatory standards for crypto assets still vary across ASEAN countries. A unified passport mechanism could help connect those markets more closely and support the broader integration and development of the region’s digital asset sector. The item was attributed to Cointelegraph.
Binance founder Changpeng Zhao said he supports an ASEAN-wide regulatory passport for crypto companies, under which a business licensed in one jurisdiction could expand into other member-state markets with fewer barriers.
The proposal is intended to simplify cross-border compliance and reduce the cost of applying for licenses repeatedly in different countries.
According to Cointelegraph, crypto asset rules currently differ across ASEAN countries. A unified regulatory passport mechanism could help advance the integration and development of the region’s digital asset market.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
