Binance returns to Philippines in 2-year SEC sandbox partnership

Binance partnered with BlockShoals Technologies to re-enter the Philippines under the SEC's Strategic Sandbox framework, ending a two-year regulatory standoff that saw the exchange blocked from the country's digital asset market.

"This partnership is an opportunity to demonstrate that global digital-asset platforms and local regulatory frameworks can work together constructively," a BlockShoals representative said.

The sandbox phase will begin in the second half of 2026 and run for at least two years under the StratBox framework. BlockShoals received approval from the SEC's Crypto Asset Intermediary framework to conduct the live trial, which will test a tailored Binance platform for users in the Philippines. Binance will provide technology, security, operations and compliance support while BlockShoals acts as the approved local intermediary.

The deal gives Binance a supervised path back into one of Southeast Asia's most active digital economies after the SEC and National Telecommunications Commission blocked access to the exchange in early 2024 over licensing concerns. The SEC's decision to regulate the exchange marks a shift toward structured oversight rather than outright bans for major offshore platforms.

The partnership followed 24 months of direct regulatory dialogue between Binance and the Philippine SEC, according to the exchange. Binance said it aligned its operations with local requirements to qualify for the sandbox program.

The Philippine SEC first warned against Binance in November 2023, saying the platform was not authorized to sell securities in the country. By March 2024, the NTC had ordered internet service providers to block access to Binance's website and related pages. Authorities later removed its mobile applications from major digital stores.

The crackdown on unregistered operators has since expanded. In August 2025, the SEC issued advisories against 10 exchanges including OKX, Bybit, KuCoin and Kraken. In April 2026, the regulator added dYdX, Aevo, gTrade and four other platforms to its investor warning list.

The Philippines' Crypto Asset Service Provider rules took effect in July 2025, requiring exchanges to register, maintain a local corporate presence and follow anti-money laundering safeguards. Binance's sandbox path aligns with those requirements, giving the exchange a structured compliance route rather than an outright ban.

Seker, Binance's Head of APAC, said the StratBox framework creates paths for responsible innovation and better cooperation between regulators and industry participants. The exchange described the sandbox as a controlled and supervised environment for financial innovation.

The partnership positions Binance to compete with other regulated platforms in the Philippines as the country tightens its oversight of digital asset trading. The sandbox structure allows both the exchange and the regulator to evaluate consumer adoption metrics and security protocols before any wider rollout.

This article is for informational purposes only and does not constitute investment advice.