Coins.ph Faces Philippine Regulatory Scrutiny over Alleged Gambling Payments
Regulators said the exchange may lose its license after alleged infractions tied to offshore gambling firms and the departure of senior compliance staff.
- On Wednesday, the Bangko Sentral reportedly scrutinized Coins.ph over allegations that the exchange facilitated transactions for restricted offshore gambling operators, restricting incoming peso deposits through DCPay Philippines.
- In August 2025, the Bangko Sentral issued BSP Memorandum M-2025-029 ordering institutions to remove gambling access links within 48 hours, establishing regulatory precedent for the current action against Coins.ph.
- Incoming InstaPay, PESONet, and QRPH collection services remain temporarily unavailable as the company strengthens internal controls, following departures of compliance staffers Lexi Herrera, Chris Bea, and Irish Calagui.
- Coins.ph confirmed that cryptocurrency trading, outgoing transfers, and bill payments remain operational, though the restriction is not time-bound as the exchange works with the Bangko Sentral on improvements.
- Sources suggest infractions are serious enough that the 12-year-old company could face license revocation, which would cause "an earthquake" in the Philippines crypto ecosystem, according to those familiar with the situation.
26 Articles
26 Articles
Cointelegraph
The New York LedgerCoins.ph Says BSP License Intact Amid Reported Revocation Risk
Coins.ph denied knowingly serving offshore gambling operators and said its central bank license remains intact following reports of potential revocation.
Coins.ph Rejects Revocation Claims, Confirms Philippine License Intact
Coins.ph denied that its license had been revoked by the Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, following reports of potential regulatory action over alleged transactions involving offshore gambling operators. The exchange said it remains licensed and that its users’ funds are safe. It also rejected allegations that it knowingly provides ...
Philippine crypto platform Coins.ph reportedly faces BSP action over offshore gambling flows
Coins.ph reportedly faces punitive action from the Philippine central bank over alleged offshore gambling flows, putting its license at risk. The post Philippine crypto platform Coins.ph reportedly faces BSP action over offshore gambling flows first appeared on Asia Gaming News | AGB - Asia Gaming Brief.
Regulatory action on Coins.ph, the largest crypto exchange in the Philippines, puts the platform under pressure: at the beginning of October 2026 there would be restrictions on deposits. At the center there are accusations related to offshore gambling activities. The exchange counts more than 18 million customers and denies having consciously managed business for those [...]
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