Binance, BlockShoals push regulated crypto ecosystem

Binance and its Philippine partner BlockShoals Technologies Inc. are working with regulators and law enforcement agencies as the country develops rules governing crypto assets and related financial services.

BlockShoals operates as a Crypto Asset Intermediary under the Securities and Exchange Commission’s Strategic Sandbox, or StratBox, which allows regulators to assess emerging financial products and services within a controlled environment.

Speaking at Philippine Blockchain Week 2026, SEC PhilFinTech Innovation Office assistant director Paolo Ong said the commission has developed a framework for Crypto Asset Service Providers as it seeks to balance market development with investor protection.

“We’ve crafted the framework for Crypto Asset Service Providers. The SEC is thinking about one aspect of crypto, which is the investment,” Ong said.

“For crypto assets in general, we see them as non-securities, but we would classify them as an investment product under the Financial Products and Services Consumer Protection Act,” he added.

Through its partnership with BlockShoals, Binance said it is bringing experience from regulated markets such as Japan and Indonesia and from its work with law enforcement agencies in other countries.

In the Philippines, the companies said their compliance measures include know-your-customer and customer due diligence checks, transaction monitoring and adherence to Anti-Money Laundering Council guidelines.

“It took two years of collaboration with the SEC to get to where we are. Our role is to ensure that Filipinos have the proper consumer protection provisions and guardrails in place, and to allow the SEC to supervise and oversee them,” said Marie Antonette “Tonet” Quiogue, CEO of Arden Consult and legal adviser to BlockShoals.

“It's as if you have access to a global product, but with the protection of your local regulator and a local entity you can go to in case there are any issues. Global product, local protection: it's a perfect fit,” she added.

Binance has also previously worked with the Philippine National Police Anti-Cybercrime Group and the Cybercrime Investigation and Coordinating Center on initiatives related to cryptocurrency and cybercrime.

Binance Philippines general manager Jen Bilango said the company hopes its work under the regulatory framework can help establish standards for other global exchanges seeking to operate legally in the country.