Coins.ph says its Philippine central bank license remains intact amid reports of possible revocation over alleged offshore gambling transactions.
[Update, 11:00 am UTC: Added a follow-up response from a Coins.ph spokesperson.]
Coins.ph said it remains licensed by the country’s central bank following reports that it could face license revocation over alleged transactions involving restricted offshore gambling operators.&
Coins.ph is one of the largest crypto exchanges in the Philippines, recording approximately $52 million in 24-hour spot trading volume on Wednesday, according to CoinGecko. The reported license risk follows restrictions imposed by the Bangko Sentral ng Pilipinas (BSP) on incoming InstaPay and PESONet transfers involving DCPay Philippines, the entity operating Coins.ph’s peso e-wallet services.
“Coins.ph firmly denies any claim that it knowingly serves offshore gaming or gambling operators,” the company said in an official statement shared with Cointelegraph on Wednesday. “Our users’ funds are safe; we continue to operate as a BSP-licensed institution,” it added.
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