Coins.ph Faced with License Revocation Over Alleged Offshore Gambling Links
Key Summary
Coins.ph, the Philippines' largest crypto exchange, is facing a potential loss of its license due to allegations that it provided services to offshore gambling platforms. The Bangko Sentral ng Pilipinas (BSP), the country's central bank, has enforced deposit restrictions on Coins.ph, affecting its transaction capabilities. The company has suspended gaming-related advertisements since August 2025 and has seen notable departures from its compliance ranks, including the departure of its Chief Compliance Officer and anti-money laundering specialists.
What is happening with Coins.ph
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.A compliance team with a revolving door
The regulatory pressure has arrived alongside notable departures from Coins.ph's compliance ranks. Chief Compliance Officer Lexi Herrera left the company in 2026.Advertisement
@media only screen and (min-width: 0px) and (min-height: 0px) {
div[id^="wrapper-sevio-de1434f5-fa9e-44a6-93c3-4c2439763717"] { width:320px; height: 100px; } }@media only screen and (min-width: 728px) and (min-height: 0px) {
div[id^="wrapper-sevio-de1434f5-fa9e-44a6-93c3-4c2439763717"] { width: 728px; height: 90px; }window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "de1434f5-fa9e-44a6-93c3-4c2439763717"; sevioads_preferences[0].adType = "banner"; sevioads_preferences[0].inventoryId = "c5700508-581b-472c-8fdd-a931cdbfc8e1"; sevioads_preferences[0].accountId = "1e47efc1-ec2d-4fca-a8b9-354e249e5095"; sevioads.push(sevioads_preferences);
Anti-money laundering specialists Chris Beaño and Irish Calagui also departed during 2026.
Coins.ph has suspended gaming-related advertisements since August 2025.
The news moving money, markets, and the world—before your day starts.
Daily. Free. Join 34,000+ readers across crypto, finance, and policy.
Email address
Subscribe free
We respect your privacy. Unsubscribe anytime.