✉news BusinessBanking first seen 2 d ago, last 1 d ago, peak #5
Philippines Central Bank Restricts Coins.ph Over Gambling Ties
Original: Philippines Central Bank Restricts Coins.ph Inbound Rails Over Gambling Ties
The Bangko Sentral ng Pilipinas has moved to restrict inbound payment rails of local crypto wallet operator Coins.ph, citing the platform's links to online gambling transactions. The action limits how users can fund their accounts through the popular wallet, which is widely used for remittances and digital payments in the Philippines. The restriction raises fresh scrutiny of how crypto-finance services intersect with unregulated gambling activity in the country.
Why now: The central bank's enforcement action against a major consumer payment app directly affects millions of Filipino users of digital wallets and remittances.
Bangko Sentral ng PilipinasCoins.phPhilippines
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