CZ: Binance partner receives in-principle approval for Philippine sandbox

Binance's Philippine partner, BlockShoals, has received in-principle approval for its StratBox regulatory sandbox from the Fintech Innovation Office of the country's Securities and Exchange Commission (SEC), founder Changpeng Zhao (CZ) announced on X. The Philippine central bank (BSP) had previously stated that neither Binance nor BlockShoals holds a Virtual Asset Service Provider (VASP) license from the bank, adding that participation in the SEC's sandbox does not exempt a firm from the separate approvals needed to operate trading infrastructure.