Philippines Regulators Clarify Binance Sandbox Status

Published by

Nidhi Kolhapur

June 11, 2026

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The Bangko Sentral ng Pilipinas said neither Binance nor BlockShoals Technologies Inc. holds a Certificate of Authority to operate as a Virtual Asset Service Provider (VASP). The statement followed an Securities and Exchange Commission clarification that the BlockShoals regulatory sandbox is for testing only, does not allow public onboarding, and identifies Binance as a crypto-asset service provider partner rather than a VASP. The clarification reinforces that sandbox participation does not replace central bank licensing requirements. The BSP said it is coordinating with the SEC, and any future operations must comply with both agencies’ regulatory frameworks.

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