Binance Sandbox Entry Not a Guarantee for Philippine Return

The Securities and Exchange Commission (SEC) of the Philippines has clarified that Binance's local partner, BlockShoals Technologies Inc., entering the regulatory sandbox does not guarantee approval for the crypto exchange to return to the market.

The SEC warned that the sandbox is a strict evaluation tool, not a shortcut to a license, and that previous infractions under the Securities Regulation Code will still be addressed. Binance was blocked in 2024 for operating without a license, and Commissioner Rogelio Quevedo emphasized that testing behind closed doors 'does not cure the penalties' or serve as a highway to approval.

The approved testing plan gives BlockShoals a 90-day window to build technical integrations connecting to a Bangko Sentral ng Pilipinas (BSP)-licensed Virtual Asset Service Provider (VASP), but this does not permit public onboarding, active trading operations, or a general reopening of Binance to local users.