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Daily Brief · Crypto · FinTech

Binance's CZ Backs a Single Crypto License Across ASEAN, Malaysia's Government Pulls Support From Its Own Blockchain Week, and the Philippines Licenses a Seventh Digital Bank

Binance co-founder Changpeng Zhao publicly backed a crypto license passporting system across ASEAN at the ASEAN Tech Summit Manila, arguing firms licensed in one member state should face a streamlined path rather than a full re-application elsewhere. Malaysia's Ministry of Digital and MDEC withdrew all official support from Malaysia Blockchain Week 2026 after backlash over an after-party DJ booking. And the Philippines granted MariBank its seventh digital banking licence, upgrading it from a rural lender.

July 28, 20264 min readMalaysia · Philippines · Crypto · Regulation · Digital Banking
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Regional policymakers converged on Manila this week as ASEAN weighed a shared approach to crypto licensing.

Binance's CZ Backs a Single Crypto License Across ASEAN

Binance co-founder Changpeng Zhao publicly endorsed a crypto license passporting system across ASEAN during a "One ASEAN, One Digital Economy" fireside chat at the ASEAN Tech Summit Manila on July 28, alongside FinTech Alliance PH founding chair Lito Villanueva. Under the proposal, firms already licensed as a crypto or stablecoin service provider in one ASEAN member state would face a streamlined approval process to operate in others, rather than a full re-application against each country's separate licensing regime, AML requirements, and capital standards.

"I think that's mostly a political problem," Zhao said of cross-border regulatory coordination, arguing the underlying technology posed no meaningful obstacle. He noted ASEAN already runs streamlined cross-border frameworks for collective investment schemes and professional adviser mobility, suggesting precedent exists for extending something similar to crypto licensing. No ASEAN regulator or body has announced a formal passporting proposal, consultation, or target date — Zhao's endorsement is a prominent industry voice, not a policy commitment.

Sources

Malaysia's Government Pulls Support From Its Own Blockchain Week Over a DJ Backlash

Malaysia Blockchain Week (MYBW) 2026 organizers apologized on July 27 after social media backlash over booking DJ and influencer Ms Pui Yi — whose early career included content on an adult platform, since removed — for the event's official after-party on July 30. The organizers stated the Ministry of Digital and MDEC "were not consulted on, involved in, or associated with the selection of the featured individual." The following day, July 28, MDEC and the Ministry of Digital withdrew their support entirely, directing organizers to remove all government branding from the event.

MDEC clarified in a statement that "neither the agency nor the Ministry of Digital had a role in planning MYBW 2026's after-party." The main conference proceeds as scheduled on July 29-30 at the World Trade Centre Kuala Lumpur, with roughly 150 speakers including Binance's Justin Sun, CoinGecko's Bobby Ong, and Visa's Asia Pacific digital currencies head — neither statement confirmed whether Ms Pui Yi's after-party appearance would still go ahead.

Sources

Philippines Grants Its Seventh Digital Banking Licence to MariBank

MariBank Philippines Inc. received Bangko Sentral ng Pilipinas approval to upgrade from a rural lender to a fully licensed digital bank, commencing operations under the new licence on July 18. It becomes the Philippines' seventh licensed digital bank, joining GoTyme Bank, Maya Bank, Overseas Filipino Bank (Landbank's digital subsidiary), Tonik Digital Bank, UnionDigital Bank, and UNObank.

BSP Deputy Governor Lyn Javier described the central bank's approach to vetting applicants: "We have to look at the business model, we have to vet, we have to look at the fitness" of ownership and leadership before granting a licence, emphasizing that approval requires demonstrating genuine value to the financial system rather than simply meeting minimum capital requirements.

Sources

Eyes on the Day Ahead

Malaysia Blockchain Week opens tomorrow, July 29, running through July 30 at the World Trade Centre Kuala Lumpur — the government withdrawal of support will be a live talking point on the sidelines, alongside sessions on institutional capital and the convergence of AI infrastructure with blockchain.

Layer 7 Ventures is a research-driven firm focused on AI and cryptocurrency in Southeast Asia. Views expressed are those of the firm and do not constitute investment advice.

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