Coins.ph Maintains Philippines Central Bank License Amid Revocation Rumors
Coins.ph, one of the largest crypto exchanges in the Philippines with approximately $52 million in 24-hour trading volume, denied reports suggesting a potential revocation of its license by the country’s central bank. The rumors followed restrictions imposed by Bangko Sentral ng Pilipinas (BSP) on InstaPay and PESONet transactions involving DCPay, the operator of Coins.ph’s peso e-wallet services. In an official statement, the company asserted it remains licensed, does not knowingly serve offshore gambling operators, and continues to comply with regulatory requirements.
License Status and Coins.ph Response
Following reports that Coins.ph might face license revocation due to alleged transactions with restricted offshore gambling operators, the crypto exchange issued a denial. It stated that its license issued by Bangko Sentral ng Pilipinas (BSP) remains valid and that user funds are secure. A company spokesperson told Cointelegraph that Coins.ph does not accept or permit offshore gambling operators on its platform and conducts continuous customer and transaction screening in accordance with BSP regulations.
Coins.ph is among the largest crypto exchanges in the Philippines, with approximately $52 million in daily spot trading volume as reported by CoinGecko on Wednesday. Amidst rumors of license risk, the company affirms it continues lawful operations and compliance with regulatory requirements.
BSP Restrictions and Impact on Coins.ph Services
Earlier, BSP imposed restrictions on incoming InstaPay and PESONet transfers involving DCPay Philippines, the unit operating Coins.ph’s peso e-wallet services. These measures temporarily suspended cash-in services and QRPh collections – the national QR standard mandated by the central bank.
Meanwhile, crypto trading, cash withdrawals, bill payments, and merchant QRPh payments remained operational. Local media BitPinas reported that these restrictions were based on BSP Monetary Board Resolution No. 839 and specifically targeted payment operations under DCPay’s electronic money issuer license. The crypto asset services operated by Betur Inc., another entity under Coins.ph with a separate virtual asset service provider license, were not the focus of these restrictions.
Regulatory Context on Gambling and Central Bank Comments
In 2025, the BSP ordered supervised financial institutions to remove links to gambling websites from payment applications. However, the current restrictions affecting Coins.ph have not been publicly connected by the BSP to this directive.
Cointelegraph sought comment from BSP officials, who indicated they would review the inquiry but had not provided further statements at the time of publication.
Why it matters
This news holds significance because Coins.ph is one of the leading crypto exchanges in the Philippine market with substantial trading volume. Rumors of a potential license revocation could have sparked panic among users and affected confidence in the platform and the broader crypto sector. The company’s confirmation of license retention and denial of servicing offshore gambling operators help reduce uncertainty and illustrate the regulator’s role in monitoring activities related to sensitive sectors such as gambling. Additionally, the news highlights the complex regulatory environment in the Philippines, where the central bank actively intervenes in payment systems, impacting operations of crypto platforms.
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