Coins.ph Says Its Central Bank License Is Intact Despite Revocation Reports

Coins.ph says it remains licensed by the Philippine central bank after reports that it could lose its license over alleged transactions involving restricted offshore gambling operators. The company, one of the largest crypto exchanges in the country, recorded about $52 million in 24-hour spot trading volume on Wednesday. In a statement, it firmly denied knowingly serving offshore gaming or gambling operators and said user funds are safe.The company did not directly confirm or deny whether such transactions took place.

BSP Restrictions on Coins.ph Payment Services

The reports follow limits placed by the Bangko Sentral ng Pilipinas on incoming InstaPay and PESONet transfers involving DCPay Philippines, which runs the peso e-wallet services. Coins.ph said the central bank told it to strengthen internal controls. Cash-in services and QRPh collections are temporarily unavailable, while crypto trading, cash-outs, bill payments and merchant QRPh payments still work. Local media reported the limits fall under Monetary Board Resolution No. 839 and target DCPay’s payment operations, not the crypto services run by Betur Inc. under a separate license.

Central Bank Gambling Directive

In 2025, the central bank ordered supervised institutions to remove links to gambling websites from their payment apps, though it has not publicly tied that order to the Coins.ph restrictions. The BSP said it would look into the inquiry but offered no further comment.