Coins.ph Said to Face Action as BSP Reportedly Restricts DCPay Deposits

CoinDesk reported on October 13, 2026, citing two people with knowledge of the situation, that Coins.ph, the Philippines’ largest cryptocurrency exchange, is facing punitive action over alleged services to restricted offshore gambling firms. The report said the action could be serious enough to strip the company of its operating license; Coins.ph denied knowingly serving offshore gaming or gambling operators.

CoinDesk reported that the BSP reportedly restricted deposits into the exchange through DCPay Philippines, Coins.ph’s wallet company, at the start of October 2026. Crypto.news reported that the restriction affects DCPay’s incoming payment business, while cryptocurrency trading and outgoing transfers on Coins.ph remain available.

Crypto.news said no public formal finding by the BSP establishes that Coins.ph violated gambling regulations, and no public confirmation shows that its cryptocurrency exchange license has been suspended or revoked.

Coins.ph said it complies with requirements from the BSP, the Anti-Money Laundering Council and other regulators. The company said users’ funds are safe, that it continues to operate as a BSP-licensed institution and that it expects to fully restore affected services soon.

Coins.ph said that, under BSP Memorandum No. M-2025-029, it suspended access to gaming ads in the app at 4 p.m. on August 15, 2025. The company’s official explanation says Betur Inc., operating as Coins.ph, is a BSP-registered virtual asset service, while DCPay Philippines is a BSP-registered electronic money issuer.

CoinDesk reported that Coins.ph has more than 18 million customers, about $50 million in 24-hour spot trading volume and roughly 75% to 80% of the Philippines’ peso-to-stablecoin liquidity.