Coins.ph says it remains licensed by the Bangko Sentral ng Pilipinas (BSP), after reports that its license could be revoked over alleged transactions with restricted offshore gambling operators. The company denies knowingly serving such operators and says user funds are safe. It recorded about $52 million in 24-hour spot trading volume on Wednesday, according to CoinGecko. The BSP restricted incoming InstaPay and PESONet transfers involving DCPay Philippines, the operator of Coins.ph's peso e-wallet, and ordered stronger internal controls; cash-in and QRPh collections are paused, while crypto trading and cash-outs remain available. Coins.ph did not directly say whether such operators had used its platform, and the BSP had not provided further comment.
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