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Manila Bulletin devider Business devider The Stock Market devider BlockShoals eyes SEC compliance as Sandbox testing moves forward

BlockShoals eyes SEC compliance as Sandbox testing moves forward

Published Jun 12, 2026 02:29 pm
BlockShoals Technologies, Inc. is currently conducting due diligence on its selected Virtual Asset Service Provider (VASP) for integrations required by its participation in the Securities and Exchange Commission’s Strategic Sandbox (StratBox) to test its cryptocurrency platform.
BlockShoals' participation in the SEC StratBox allows the company to test trading activities and other advanced crypto-asset products within a controlled regulatory environment. The firm said in a statement that onboarding and system integration will begin once its partnership is formalized with the still-unnamed VASP licensed by the Bangko Sentral ng Pilipinas (BSP).
“It has always been the plan for BlockShoals and Binance to work with a VASP regulated by the BSP wherever required. This is part of BlockShoals' testing plan, which was submitted to and approved by the SEC under its StratBox Framework in November 2025,” said BlockShoals Head of Legal and Director Marie Antonette Quiogue.
She noted that it is vital for the company to work with a partner that is "properly regulated, has strong compliance systems, and is committed to investor protection.”
The company previously announced its partnership with Binance for the regulated testing phase within the StratBox. Under this arrangement, BlockShoals maintains full responsibility for local regulatory compliance and user-facing operations, while Binance provides backend technology infrastructure and strategic support.
Last month, BlockShoals took part in an official meeting with the SEC and the BSP's Technology Risk and Innovation Supervision Department (TRISD), emphasizing its absolute commitment to regulatory compliance.
“In that meeting, when asked by the BSP, we informed them that we are finalizing our agreement with a BSP-accredited VASP partner—a step that is a built-in requirement of our approved testing plan and expressly required under our Notice to Proceed,” Quiogue said.
She added that, “Throughout the StratBox testing period, BlockShoals operates under the direct supervision of the SEC, and we welcome the close coordination between the SEC and the BSP, which run separate but complementary regulatory frameworks.”
Yesterday, the SEC clarified that BlockShoals is not yet permitted to commercially operate or offer cryptocurrency products and services to the public, as it is currently under a 90-day testing period.
“The indicated 90-day period is intended solely for the establishment and integration of the technical infrastructure and systems between BlockShoals and its local VASP partner,” the SEC said.
In particular, the process will focus on developing secure fiat rails that enable the seamless on-ramping and off-ramping of Philippine pesos, allowing users to convert fiat currency into cryptocurrency and vice versa.
“Any system access or operational connectivity provided during this period is limited strictly to activities necessary for technical integration and sandbox testing. This should not be construed as the commencement of public onboarding, public trading operations, or broader market reopening,” the SEC stressed.
The Commission also emphasized that any future public participation or onboarding activities remain subject to applicable regulatory requirements and further SEC approval.

Related Tags

Blackshoals Technologies Inc. Securities and Exchange Commission Binance Marie Antonette Quiogue
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