Coins.ph says BSP licence remains valid amid scrutiny
- Coins.ph says its Bangko Sentral ng Pilipinas (BSP) licence remains valid amid reports of potential regulatory action.
- The dispute follows reports that the Philippine central bank may pursue action against the cryptocurrency exchange.
- The outcome could affect regulatory oversight of one of the Philippines’ major digital asset platforms.
Coins.ph, operated through separate entities for payments and crypto trading, says its regulatory status remains unchanged despite reports of possible licence revocation.
The Bangko Sentral ng Pilipinas (BSP) reportedly restricted incoming InstaPay and PESONet transfers involving DCPay Philippines, which operates 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 its official statement shared with Cointelegraph on Wednesday.
The company said the BSP instructed it to strengthen internal controls amid scrutiny of transactions allegedly involving restricted offshore gambling operators.
Coins.ph said cash-in services and QRPh collections were temporarily unavailable, while crypto trading, cash-outs and bill payments remained accessible.
The regulatory arrangements involve DCPay’s electronic money issuer licence and Betur Inc.’s separate virtual asset service provider licence for crypto operations.
Coins.ph serves 18.6 million registered users, while CoinGecko data showed approximately US$52 million in 24-hour spot trading volume for its exchange on 14 October 2026.
The dispute leaves Coins.ph operating under its existing licence, while the company says it expects to restore affected services soon.
