Coins.ph Suspends Peso Deposit Services After BSP Directive and Reported Gambling Links

Coins.ph suspended several peso deposit services after a directive from the Bangko Sentral ng Pilipinas to improve internal controls, and a CoinDesk report on 13 October 2026 alleging the platform handled payments tied to restricted offshore gambling operators. The company halted Good To Know InstaPay and PESONet deposits and QRPH collections but said trading, cash withdrawals, bill payments and QRPH payments continue for customers.

Services affected and what remains live — coins.ph gambling allegations in operational terms

Coins.ph put specific peso funding rails into maintenance. The service status page, as of 14 October 2026, showed InstaPay and PESONet deposits under maintenance; spot crypto trading and outgoing bank transfers were listed as operational. An unresolved InstaPay deposit notice on the platform dated back to 29 September 2026.

Customers were able to continue crypto trading, cash withdrawals, bill payments and QRPH payments according to the company statement. Coins.ph also said customer funds remain safe under Bangko Sentral ng Pilipinas requirements and that it is working with the central bank to complete the required improvements. The firm has not provided a public restoration date for the paused deposit channels.

How the coins.ph gambling allegations map to BSP rules and the reported CoinDesk claims

CoinDesk published a report on 13 October 2026 alleging Coins.ph processed payments connected to restricted offshore gambling operators, citing people familiar with the matter. One unnamed source told CoinDesk that compliance failures could threaten Coins.ph's operating licence.

Coins.ph's public advisory does not name gambling transactions as the cause. Instead, the company refers to internal control improvements requested by the Bangko Sentral ng Pilipinas. There is no public confirmation from Coins.ph that gambling-related payments were the specific reason for the deposit restrictions, and the company has not announced any revocation or suspension of its cryptocurrency exchange licence.

The distinction between an allegation and regulatory action is material. The available statements do not establish gambling misconduct or confirm any licence suspension. Assessing whether particular transactions violate restrictions requires details that have not been published: the identities of the operators involved, the volume and timing of payments, and the contractual or statutory restrictions that would apply to those specific transfers.

Regulatory background: BSP memorandum and what it required

Bangko Sentral ng Pilipinas issued Memorandum M-2025-029 on 14 August 2025. The memorandum directed supervised financial institutions to remove links that take customers directly from payment apps or websites to gambling platforms within 48 hours. That directive targeted gambling access features embedded in consumer-facing apps.

The memorandum did not impose a blanket ban on every payment involving a licensed gaming business. It focused on removing direct access paths to gambling platforms rather than outlawing payments that may originate from or be destined for gaming companies. Determining whether Coins.ph breached obligations under M-2025-029 would require examination of the specific payment flows and user experience elements at issue.

Corporate structure and licence scope: why DCPay Philippines and Betur Inc. matter

Coins.ph operates through two regulated entities. DCPay Philippines handles electronic money and peso payment services. Betur Inc. runs the virtual asset business that operates the cryptocurrency exchange. Restrictions applied to DCPay do not automatically remove authorization for Betur Inc. to operate a crypto exchange.

That separation means a compliance action against the payments arm can affect certain on-ramps without instantly invalidating the virtual asset licence. Coins.ph has not reported any suspension or revocation of Betur Inc.'s licence to operate the exchange.

What the company and market participants are watching next

Coins.ph says it is cooperating with the Bangko Sentral ng Pilipinas and implementing internal-control improvements. Market participants will look for two concrete outcomes: the restoration timeline for InstaPay and PESONet deposits, and any formal regulatory finding that connects the paused services to gambling-related payments.

Payments vendors and operators that integrate Coins.ph rails will be monitoring the service-status updates and the central bank's communications. The practical impact for end users is immediate: some funding channels are unavailable, while trading and withdrawals continue.

Compliance and contractual limits mentioned in public statements

Coins.ph's user terms prohibit unlicensed gambling and certain unauthorised gaming activities. Those contractual restrictions are standard but do not alone prove the company processed payments for restricted offshore gaming operators. Publicly available material from both Coins.ph and the Bangko Sentral ng Pilipinas so far recounts controls and the memorandum but stops short of naming operators or detailing transaction volumes.

Where this leaves the licence question and the allegations

There has been no announcement of cryptocurrency licence revocation for Betur Inc., and Coins.ph has not confirmed the gambling allegations reported by CoinDesk. The difference between a compliance directive resulting in temporary payment suspensions and an enforcement action that revokes a licence is significant. Observers will watch whether the Bangko Sentral ng Pilipinas escalates beyond remediation requirements or whether the situation remains confined to controls and channel maintenance.

For reporting on regulatory updates and how payment rails affect operators, see relevant coverage under regulation and practical implications for partners in our b2b section. Payment-integrator teams will want to track the status of specific payment channels tied to Coins.ph as the central bank engagement progresses.

"Customer funds remain safe under Bangko Sentral ng Pilipinas requirements," Coins.ph said in its public advisory.