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Economics1h 20m ago

The Philippines central bank stated that Binance and its local partner BlockShoals Technologies lack the required Virtual Asset Service Provider (VASP) licenses.

Philippines

Who
Bangko Sentral ng Pilipinas (BSP), Binance, BlockShoals Technologies, Philippine Securities and Exchange Commission (SEC)
What
The Philippines central bank stated that Binance and its local partner BlockShoals Technologies lack the required Virtual Asset Service Provider (VASP) licenses.
When
Thu, 11 Jun 2026 09:58:52 GMT · 1h 20m ago
Where
Philippines ·
Why
Neither Binance nor BlockShoals holds a VASP license, which is needed to operate crypto payment and transaction services in the country, rendering SEC sandbox approval insufficient.
The Frontline Impact

How this affects you

This regulatory hurdle means Binance's planned re-entry into the Philippine market through BlockShoals cannot proceed without securing the necessary central bank licenses, impacting crypto service availability for users in the region.

Story chain

2 events in this thread
  1. Currently Reading1h 20m ago
    The Philippines central bank stated that Binance and its local partner BlockShoals Technologies lack the required Virtual Asset Service Provider (VASP) licenses.
  2. Economics2h 29m ago
    The Philippine central bank stated that neither Binance nor its local partner, BlockShoals Technologies Inc., holds the necessary license to operate as a virtual asset service provider (VASP) in the country.
    Open article

Verified Sources & Citations

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