Coins.ph Denies License Revocation, Asserts Regulatory Compliance
The Philippine crypto exchange refutes reports of license revocation by the central bank amid allegations of offshore gambling transactions.
The Philippine crypto exchange refutes reports of license revocation by the central bank amid allegations of offshore gambling transactions. This is an original Token Times brief based on reporting by Crypto Economy, with live market data added, as of Wed, 14 Oct 2026 19:00:02 UTC.
The situation highlights the ongoing regulatory scrutiny of crypto platforms, particularly regarding their involvement with offshore gambling, which could impact user trust and market stability.
- Coins.ph denies license revocation by BSP, claims operations are uninterrupted.
- Reports suggest scrutiny over alleged transactions with offshore gambling operators.
- Exchange assures users' funds are safe amid regulatory uncertainty.
Coins.ph, a major cryptocurrency exchange in the Philippines, has refuted claims that its license has been revoked by the Bangko Sentral ng Pilipinas (BSP), the country's central bank. The exchange confirmed that it remains fully licensed and operational, addressing reports that suggested potential regulatory action against the platform.
The controversy appears to be centered around allegations of the exchange's involvement in transactions with offshore gambling operators. According to Crypto Economy, these allegations have prompted scrutiny from the BSP, which is known for its stringent regulatory approach to crypto platforms.
Coins.ph has rejected the allegations, stating that it does not knowingly engage in transactions that violate regulatory guidelines. The exchange emphasized that user funds are safe and that its operations continue without interruption. This stance was corroborated by Cointelegraph, which also reported on the exchange's denial of license revocation.
The situation unfolds against the backdrop of increasing regulatory scrutiny of crypto platforms worldwide, particularly those that may be involved in high-risk transactions such as those with offshore gambling operators. The BSP has been proactive in regulating the crypto space, having issued licenses to several exchanges while also enforcing strict compliance requirements.
In the current market context, with the total crypto market cap at $2.81 trillion and 
Bitcoin experiencing a 24-hour decline of 1.84%, the news adds to the uncertainty. The Fear & Greed Index stands at 62, indicating a state of 'Greed,' but the situation could shift depending on how the regulatory issues unfold.
Coins.ph Denies License Revocation, Asserts Regulatory Compl — questions & answers
What is the current status of Coins.ph's license?
Coins.ph asserts that its license from the BSP remains intact and that it continues to operate normally.
Why is Coins.ph facing regulatory scrutiny?
The exchange is under scrutiny due to allegations of transactions with offshore gambling operators.
How has the market reacted to the news?
The broader market is down, with Bitcoin experiencing a 1.84% decline in the last 24 hours.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Crypto Economy. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.