BlockShoals lawyer clarifies Binance’s regulatory status in the Philippines

BlockShoals’ head of legal said Binance can provide trading access under the Philippine SEC’s crypto framework, while peso transfers and other central bank-regulated services require a licensed VASP.

Binance is allowed to provide crypto trading access to users in the Philippines through its arrangement with BlockShoals Technologies, but neither company is authorized to handle peso transfers or perform other activities regulated by the country's central bank, according to legal adviser Marie Antonette Quiogue.

Quiogue, head of legal at BlockShoals, told Cointelegraph in an interview on Friday at Philippine Blockchain Week 2026 that Binance’s local operations fall under the Securities and Exchange Commission’s (SEC) crypto asset service provider (CASP) framework. She said BlockShoals serves as a crypto asset intermediary, introducing Philippine users to Binance’s global trading platform.

The arrangement forms part of Binance's effort to reestablish a presence in the Philippines after regulators moved to restrict access to the exchange over licensing concerns in 2024. Under the structure presented by BlockShoals, the company participates in the SEC's Strategic Sandbox, or StratBox.

Read more