BlockShoals Technologies Inc. has officially registered with the Anti-Money Laundering Council (AMLC) as a covered person under the Anti-Money Laundering Act of 2001. This registration is a vital step in establishing trust among its users and regulators in the Philippines.
Strengthening Regulatory Compliance in the Crypto Sector
BlockShoals holds this AMLC registration in its own name. As a CAI providing crypto-asset service, BlockShoals is a CASP and under the CASP Rules, every CASP is treated directly as a covered person. That status is entirely owned by BlockShoals.
Arden Consult, Legal Counsel to BlockShoals
Operating as a Crypto-Asset Intermediary (CAI), BlockShoals is part of the SEC's Strategic Regulatory Sandbox. The company received a Notice to Proceed with Testing from the SEC on 14 April 2026.
- Compliance with the AMLA and its implementing rules.
- Ongoing customer due diligence.
- Transaction monitoring and recordkeeping.
As a registered CASP, BlockShoals is committed to adhering to the AMLA, which includes meeting obligations such as filing covered and suspicious transaction reports. The certification received from the AMLC on 18 June 2026 further solidifies their regulatory standing.
The Philippine crypto ecosystem has faced increasing regulatory scrutiny, making compliance crucial for service providers. BlockShoals' proactive measures are part of a broader industry trend towards transparency and enhanced governance.