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Changpeng Zhao, co-founder of Binance, has backed a mutual recognition framework for crypto operating licenses across the Association of Southeast Asian Nations, according to published reports.
The proposal, as Zhao described it, would simplify regulatory approvals, lower compliance costs for exchanges seeking to operate across the bloc, and open the region's digital asset markets to more competition.
The passporting model License passporting is a regulatory concept in which one jurisdiction's approval is recognized by others in a defined group.
In an ASEAN context, a crypto exchange cleared by one member country's regulator could, under such a framework, operate across the bloc without filing separate applications in each of the ten member states.
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