Coins.ph, Philippines' largest crypto exchange, faces central bank regulatory action
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 made 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, while Coins.ph maintains over 18 million users in the Philippines.
- Incoming InstaPay, PESONet, and QRPH collection services remain temporarily unavailable as the company strengthens internal controls, following departures of compliance chief Lexi Herrera, head of AML transaction monitoring Chris Bea, and money laundering reporting officer Irish Calagui.
- Unlike temporary market suspensions, this restriction is not time-bound, though Coins.ph confirmed that cryptocurrency trading, outgoing transfers, and bill payments remain operational while it 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.
12 Articles
12 Articles
Coins.ph and 18 Million Users Caught in Philippine Gambling Payment Crackdown
The Bangko Sentral ng Pilipinas is squeezing Coins.ph hard. The Philippine central bank has put the country’s biggest crypto exchange… Read the original on Philippine Central Bank Targets Coins.ph in Gambling Payment Probe Affecting 18 Million Users. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
Coins.ph Said to Face Regulatory Action From Philippine Central Bank
Serving more than 18 million users, the platform reportedly processed financial deals linked to banned online gambling and betting firms. The Philippines’ top crypto exchange, Coins.ph, confronts regulatory penalties from central bank officials, according to two sources familiar with the matter. These violations involving illicit betting firms carry severe risks, potentially forcing central bank authorities […]
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coinstats.appPhilippines Restricts Coins.ph Banking Access Over Alleged Offshore Gambling Links
The Philippines’ central bank has restricted banking access for Coins.ph, one of the country’s largest cryptocurrency exchanges, amid allegations that its payment infrastructure processed transactions connected to prohibited offshore gambling operations. The Bangko Sentral ng Pilipinas (BSP) suspended incoming transfers to DCPay Philippines, the electronic money issuer operating Coins.ph’s peso wallet services, on September 29.… Continue reading…
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