Coins.ph faces potential license loss over alleged offshore gambling links

The Philippines' largest crypto exchange is under central bank scrutiny as the country's crackdown on offshore gaming operators widens The Philippines’ largest crypto exchange is in a tight spot. Coins.ph faces a potential loss of its license amid allegations that it provided services to offshore gambling platforms. Coins.ph operates as a licensed virtual asset service provider, or VASP, under the Bangko Sentral ng Pilipinas (BSP), the country’s central bank. The BSP began enforcing deposit restrictions on Coins.ph in October 2026. Those restrictions affected transaction capabilities through the exchange’s primary wallet operator.

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