Binance returns to Philippines SEC sandbox

• Binance has re-entered the Philippine market through the Securities and Exchange Commission's regulatory sandbox.
• The move allows Binance to test its services under regulatory supervision after previous restrictions.
• The exchange said it aims to work with regulators as it seeks long-term approval in the country.

Binance has re-entered the Philippines through the Securities and Exchange Commission's regulatory sandbox, allowing the exchange to test its services under regulatory oversight.

The move follows the regulator's decision to restrict access to Binance in 2024 over concerns about its operations without the required licence.

The regulatory sandbox lets Binance test selected products with approved users while the Securities and Exchange Commission reviews its compliance.

Binance said participating in the sandbox will help it work with regulators as it seeks a longer-term presence in the Philippine market.

The exchange has expanded its regulatory efforts in several countries by applying for licences and working more closely with financial authorities.

The Philippines has continued developing its digital asset framework as regulators balance innovation with investor protection.