Coins.ph said its license from the Bangko Sentral ng Pilipinas (BSP) remains intact following reports of possible revocation over alleged transactions involving restricted offshore gambling operators. Coins.ph denied knowingly serving offshore gaming or gambling operators in an official statement shared on Wednesday. Coins.ph said users' funds are safe and the company continues to operate as a BSP-licensed institution.
However, Coins.ph did not directly address whether offshore gambling operators had used the platform. A company spokesperson was asked whether Coins.ph processed transactions involving those operators regardless of the company's awareness. The spokesperson said the company would seek clarification internally but had no further information to share at the time.
The reported license risk follows BSP restrictions on incoming InstaPay and PESONet transfers involving DCPay Philippines, which operates Coins.ph's peso e-wallet services. Coins.ph said in an earlier advisory that the BSP had instructed the company to strengthen internal controls. Coins.ph said cash-in services and QRPh collections were temporarily unavailable. Coins.ph said crypto trading, cash-outs, bill payments and merchant QRPh payments remained accessible. QRPh is the central bank's national QR payment standard.
Local media outlet BitPinas reported that the restrictions were imposed under BSP Monetary Board Resolution No. 839. DCPay holds an electronic money issuer license. Betur Inc. operates Coins.ph's crypto asset services under a separate virtual asset service provider license. The restrictions reportedly targeted DCPay's payment operations rather than Betur's crypto services.
Coins.ph is one of the largest crypto exchanges in the Philippines. CoinGecko recorded approximately $52 million in 24-hour spot trading volume for Coins.ph on Wednesday. The central bank ordered supervised financial institutions in 2025 to remove links providing access to gambling websites from payment applications. However, the BSP has not publicly linked that directive to the restrictions on Coins.ph. A central bank representative said the BSP would look into a request for confirmation and comment but provided no further comment by publication.
Coins.ph Denies License Revocation Amid Offshore Gambling Reports
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Summary
Coins.ph denies license revocation amid offshore gambling reports, citing AI + crypto news insights. The firm says its Bangko Sentral ng Pilipinas (BSP) license remains active despite claims of possible revocation over alleged ties to restricted offshore gambling operators. Coins.ph denied knowingly serving such operators and confirmed user funds are safe. It did not confirm if offshore gambling operators used its platform. The restrictions reportedly affect DCPay Philippines, which runs the peso e-wallet, not Betur Inc., which manages crypto services. Cash-in and QRPh collections are temporarily down, but crypto trading and other services remain available.
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