SEC Keeps Door Open for Binance-Linked Services Amid Regulatory Hesitation

The Securities and Exchange Commission (SEC) in the Philippines is open to testing Binance-linked services, but participation in its regulatory sandbox does not guarantee eventual approval.

According to SEC Chair Francis Lim, the regulator wants to test emerging technologies rather than reject them due to their novelty. 'We should not close our minds to innovation,' he said.

Lim's comments came after Philippine Stock Exchange (PSE) president Ramon Monzon questioned the SEC's decision to admit Blockshoals Technologies Inc., a local partner of Binance, into its regulatory sandbox.

The SEC chief emphasized that admission into the sandbox is part of an evaluation process and does not guarantee approval. 'But we have to test,' he said. 'We look at the data. We look at the appropriate regulation.'