Philippines' Coins.ph reportedly faces central bank action over gaming-linked transactions
The exchange, which has more than 18 million customers, is reportedly facing central bank action over transactions involving restricted offshore gaming firms.
Coins.ph, described as the largest crypto exchange in the Philippines, is reported to be facing regulatory action from the country's central bank over transactions connected to offshore gaming and gambling companies that are restricted in the jurisdiction.
The exchange serves more than 18 million customers, according to the report. No specific penalties, deadlines or formal findings were disclosed, and neither Coins.ph nor the Bangko Sentral ng Pilipinas has confirmed the details publicly.
Gaming scrutiny
Philippine authorities have stepped up oversight of offshore gaming operators in recent years, and virtual asset service providers in the country are subject to registration and anti-money-laundering requirements. The reported action, if confirmed, would add Coins.ph to a growing list of exchanges whose handling of gaming-related flows has drawn regulatory attention.