Coins.ph, one of the largest crypto exchanges in the Philippines, has clarified that its central bank license remains intact despite reports suggesting potential revocation. The exchange addressed claims that it may have facilitated transactions involving restricted offshore gambling operators, stating that it firmly denies any involvement in such activities. Coins.ph assured users that their funds are secure and that the platform continues to operate under its Bangko Sentral ng Pilipinas (BSP) license.
The company emphasized that it does not permit offshore gambling operators on its platform and adheres to BSP requirements for customer and transaction screening. However, it did not explicitly confirm or deny whether such transactions had occurred through its services. The BSP has imposed restrictions on Coins.ph’s payment services, particularly targeting DCPay Philippines, the entity managing the exchange’s peso e-wallet services.
Coins.ph reported that cash-in services and QRPh collections are temporarily unavailable due to the BSP’s instructions to strengthen internal controls. Despite these restrictions, crypto trading, cash-outs, bill payments, and merchant QRPh payments remain accessible. The BSP’s restrictions are reportedly aimed at DCPay’s payment operations rather than Betur Inc., which operates Coins.ph’s crypto asset services under a separate license.
The central bank has not publicly linked these restrictions to a 2025 directive ordering supervised financial institutions to remove links to gambling websites from their payment applications. Cointelegraph sought further clarification from the BSP, but no additional comment was provided at the time of publication.