SEC Clarifies Binance Partner's Sandbox Testing Does Not Mean Public Trading

The Securities and Exchange Commission (SEC) in the Philippines has clarified that BlockShoals Technologies Inc.'s integration into the SEC's Strategic Sandbox program does not signal the start of public crypto trading or user onboarding.

BlockShoals, a partner of Binance, had been admitted to the StratBox program on May 29. The program allows firms to test financial products and services within a controlled regulatory environment.

The integration period is solely for testing BlockShoals' systems with a virtual asset service provider (VASP) licensed by the Bangko Sentral ng Pilipinas (BSP).

During this 90-day period, any system access or connectivity provided will be limited to activities necessary for technical testing and sandbox operations.