Largest Philippines crypto exchange, Coins.ph, said to face central bank regulatory action

Coins.ph, the largest cryptocurrency exchange in the Philippines, is facing punitive action from financial regulators at the country’s central bank, two people with knowledge of the situation said. The infractions, which are said to involve serving offshore gambling firms, are serious enough for the 12-year-old company to be stripped of its license to operate, which would cause “an earthquake” in the Philippines’ crypto ecosystem, according to one of the people.