Coins.ph says its BSP license remains intact after reports of possible revocation in the Philippines

Coins.ph says it remains licensed by the Bangko Sentral ng Pilipinas (BSP) after reports that its license could be revoked over alleged transactions involving restricted offshore gambling operators. For PSPs and high-risk operators, the more relevant detail is not the headline drama but the pattern: the regulator has already put pressure on the company’s peso payment rails.

1. Coins.ph said in an official statement shared with Cointelegraph that it “firmly denies any claim that it knowingly serves offshore gaming or gambling operators” and that its users’ funds are safe. The company also said it continues to operate as a BSP-licensed institution.
2. The company did not directly answer whether offshore gambling entities had used its platform regardless of its awareness. When Cointelegraph asked whether it could confirm or deny processing such transactions, a company spokesperson said they would seek clarification internally and had no further information to share at the time.
3. Coins.ph is one of the largest crypto exchanges in the Philippines, with about $52 million in 24-hour spot trading volume on Wednesday, according to CoinGecko. That matters because when a platform this size gets pulled into a payment-control dispute, the impact is not limited to crypto trading; it spills into fiat rails, onboarding, and merchant flow.
4. Earlier, Coins.ph said the BSP had instructed it to strengthen internal controls. The company said cash-in services and QRPh collections were temporarily unavailable, while crypto trading, cash-outs, bill payments and merchant QRPh payments remained accessible. QRPh is the central bank’s national QR standard.
5. BitPinas reported that the restrictions were imposed under BSP Monetary Board Resolution No. 839. Coins.ph’s DCPay Philippines holds an electronic money issuer license, while Betur Inc. operates the exchange’s crypto asset services under a separate virtual asset service provider license. The reported restrictions targeted DCPay’s payment operations rather than Betur’s crypto services.

In 2025, the BSP ordered supervised financial institutions to remove links providing access to gambling websites from their payment applications. The central bank has not publicly linked that directive to the restrictions on Coins.ph, and it had not provided further comment at the time of publication.