Philippines Central Bank Confirms Binance and BlockShoals Hold No VASP Licenses

According to BitPinas, the Philippine central bank confirmed on June 11 that Binance and BlockShoals Technologies Inc. hold no virtual asset service provider (VASP) licenses. The central bank noted that participation in the Securities and Exchange Commission's regulatory sandbox does not exempt entities from separately applying for central bank authorization.

The SEC has revised BlockShoals' testing terms, designating Binance as a global crypto asset service provider partner rather than a global VASP.