Philippine Regulators Probe Crypto Exchange Coins.ph Over Alleged Gambling Connections

Philippine central bank regulators are reportedly weighing action against Coins.ph over claims it served offshore gambling firms. The largest crypto exchange in the Philippines, Coins.ph, is facing possible punitive action from the country's central bank. This comes amid claims that the exchange allegedly provided services to offshore gambling firms. Coins.ph denied the allegations. The Bangko Sentral ng Pilipinas (BSP) restricted deposits on Sept. 29 made through DCPay Philippines, the wallet firm for Coins.ph. Local outlet BitPinas reported it was imposed under BSP Monetary Board Resolution No. 839.