Binance plans Philippines comeback via regulatory sandbox collaboration with SEC
Access to Binance in the Philippines continues to be restricted following a 2024 directive from the NTC, linked to SEC-related issues concerning proper licensing and registration requirements.
The cryptocurrency trading platform Binance has announced a collaboration with financial technology firm BlockShoals Technologies in what represents the exchange's inaugural structured approach to entering the Philippine market, utilizing domestic partnerships alongside regulatory cooperation.
The partnership was unveiled by Binance on Tuesday, emphasizing that BlockShoals holds approved participant status within the Strategic Sandbox framework, known as StratBox, operated by the Philippine Securities and Exchange Commission (SEC). According to Binance, BlockShoals will function as the authorized domestic intermediary, with the exchange contributing technological infrastructure, security systems, operational capabilities, and compliance oversight.
In comments provided to Cointelegraph, a representative from Binance explained that the organization is implementing a compliance-focused market strategy through cooperation with domestic stakeholders. "This represents Binance's first formal market entry approach in the Philippines through local partnerships and regulatory engagement," the representative stated.
This partnership structure represents Binance's most recent effort to secure a regulated operational footprint in the Philippines following earlier restrictions that limited access to the platform within the country. According to Binance, the sandbox testing phase is anticipated to commence during the latter half of 2026 and will run for a minimum of two years under the SEC's regulatory framework.
As of this writing, access to Binance continues to be blocked, stemming from an order issued by the National Telecommunications Commission (NTC), which serves as the nation's telecommunications regulatory body.
Regulatory licensing issues led to Binance's blocking in the Philippines
The Securities and Exchange Commission of the Philippines initially issued a public warning regarding Binance in November 2023, declaring that the exchange lacked authorization to sell or provide securities within the country due to its failure to obtain required registration and licensing from the regulatory authority.
By March 2024, the SEC disclosed that it had requested the NTC to restrict access to the platform along with its associated web properties, referencing the absence of proper licensing to conduct operations in the Philippines. Subsequently, domestic internet service providers began implementing access restrictions to Binance in compliance with the NTC directive.
The regulatory enforcement campaign targeting unlicensed cryptocurrency operators subsequently broadened to encompass additional prominent platforms. During August 2025, the SEC released an advisory targeting 10 different exchanges, among them OKX, Bybit, KuCoin and Kraken, cautioning that their operations put Filipino investors at significant risk.
On April 21, the regulatory body identified cryptocurrency platforms dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv, and Ostium in an investor warning, indicating that these entities lack SEC registration despite appearing to offer investment opportunities to the general public.