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Coins.ph Says BSP Licences Remain Active Amid Offshore Gambling Allegations

Coins.ph says its licenses remain active as payment restrictions continue and offshore-gambling allegations remain unresolved.

6 min read

Coins.ph says its Bangko Sentral ng Pilipinas (BSP) licenses remain active, according to its October 16 replies to BitPinas. The clarification follows its October 14 denial of knowingly serving offshore gambling operators, while restrictions on incoming peso payments continue.

Editorial illustration of Coins.ph branding on a phone beside the Philippine flag and abstract payment paths.

KEY FACTS AT A GLANCE

  • Licenses: Coins.ph says its crypto and e-money authorizations remain active; older BSP directories do not establish October status.
  • Services: The company lists restrictions on incoming InstaPay/PESONet cash-ins and QRPh collections, while describing several other services as continuing.

What the cash-in restrictions cover

Coins.ph told BitPinas that the directive affects cash-ins to DCPay through InstaPay and PESONet, two domestic payment networks. Its separate, undated user advisory also names QRPh collections as unavailable and says BSP requested stronger internal controls.

Receiving QRPh collections differs from paying a merchant through QRPh, which the advisory says continues. BSP’s infrastructure FAQ describes QRPh using InstaPay, so the later rail-level summary is compatible with the advisory’s added detail. Omitting QRPh collections from the Q&A does not establish that collections resumed. The original case instrument was not independently obtained.

The company also listed three over-the-counter cash-in partners through DragonPay as operational. These listings were not transaction-tested; they prevent treating the restrictions as a suspension of every deposit method.

Coins.ph’s reported service status
Checked October 18, 2026, at 01:41:10 UTC / 09:41:10 PHT.
ServiceReported statusEvidence
PHP cash-in via InstaPayStatus: Reported unavailableEvidence: Advisory + status page
PHP cash-in via PESONetStatus: Reported unavailableEvidence: Advisory + status page
Incoming QRPh collectionsStatus: Listed unavailable in advisoryEvidence: Advisory
Peso cash-out via InstaPayStatus: Reported operationalEvidence: Status page
Peso cash-out via PESONetStatus: Reported operationalEvidence: Status page
Crypto trading / Spot ExchangeStatus: Reported operationalEvidence: Status page
Bill paymentsStatus: Reported operationalEvidence: Status page
Payments at QRPh merchantsStatus: Company says continuingEvidence: Advisory
Over-the-counter cash-in via DragonPayCebuana Lhuillier, M Lhuillier, Palawan ExpressStatus: Listed operational; untestedEvidence: Status page

Company-reported status; services were not independently tested. QRPh entries reflect an undated advisory still published at the check. Peso cash-outs do not establish that every blockchain withdrawal works: the status page separately listed SUI and Bahamut maintenance.

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Two entities behind the license claims

Coins.ph identifies Betur with its virtual asset service provider license, covering crypto, and DCPay with its electronic money issuer license for peso services. It told BitPinas both remain active and said Betur is outside the Philippine Payments Management Inc. (PPMI) advisory’s scope.

BSP directories list Betur as of July 15 and DCPay as of May 31. Those records predate the payment restrictions. They support the entities’ historical registration, not independent confirmation of the company’s current license claims.

What Coins.ph says about the gambling allegations

CoinDesk reported possible punitive action using two unnamed people with knowledge of the matter; one described the possibility of license loss. Its report included allegations involving offshore gambling operators and was later updated with company comments. Possible action reported by anonymous sources is not an announced regulatory decision.

“Coins.ph firmly denies any claim that it knowingly serves offshore gaming or gambling operators.”

— Coins.ph statement supplied to Cointelegraph, October 14

The qualification matters. Cointelegraph’s follow-up described the company’s prohibition and screening procedures but did not obtain a direct answer on whether the disputed transactions occurred. A denial of knowingly serving operators does not resolve that narrower factual question.

In its separate October 16 replies to BitPinas, Coins.ph said its controls keep offshore operators off the platform and characterized the controls work as regular regulatory oversight. Those are company assertions; BSP has not endorsed them in the reporting reviewed.

From payment restrictions to the company’s response
Five reported milestones in 2026. Spacing does not represent elapsed time.
  1. Payment restrictions dated

    BitPinas later identifies a PPMI advisory dated September 29. Coins.ph’s incident log corroborates the disruption’s timing, not the legal order or its grounds.

    Evidence: reported advisory — BitPinas; company incident log — Coins.ph.

  2. Restrictions reported publicly

    BitPinas reports limits on incoming InstaPay, PESONet and QR transfers, while outgoing transfers are permitted.

    Evidence: reporting on the payment-network advisory — BitPinas.

  3. Company service advisory covered

    BitPinas reports Coins.ph’s explanation of unavailable cash-ins and QRPh collections. This is the coverage date; the company blog has no visible publication date.

    Evidence: company advisory as reported by BitPinas.

  4. Allegations and company denial

    CoinDesk reports regulatory-action allegations based on anonymous sources, then adds company comments. Separately, Cointelegraph reports Coins.ph’s denial of knowingly serving offshore gaming or gambling operators.

    Evidence: anonymous-source allegations — CoinDesk; attributed company response — Cointelegraph.

  5. Company clarifies its position

    Coins.ph tells BitPinas its licenses remain active and describes the scope of DCPay cash-in restrictions. BSP’s reply to BitPinas provides no case-specific explanation.

    Evidence: company Q&A and regulator reply — BitPinas.

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What remains unanswered

BSP supplied no substantive case explanation in the reviewed reporting from BitPinas, Cointelegraph and CoinDesk at their publication times. Dyutam did not contact the regulator. The unresolved issues include the underlying transactions, any further enforcement action and the restoration timetable.

Coins.ph’s assurances therefore remain its side of the story. Its published statement anticipates service restoration but provides no firm date.

Related coverage: Turkey’s gambling crackdown and scrutiny of payment providers.

FAQs

Has the Coins.ph BSP license been revoked?

Coins.ph says its licenses remain active. No published BSP finding reviewed for this article establishes revocation. The available regulator directories predate the restrictions and do not confirm current status.

Can Coins.ph customers still withdraw?

The company listed InstaPay and PESONet peso cash-outs as operational at the October 18 check. That does not guarantee every blockchain withdrawal: SUI and Bahamut transfers were separately under maintenance.

Does the company denial settle the gambling allegations?

No. The denial concerns knowingly serving offshore operators. Cointelegraph’s follow-up did not obtain a direct answer on whether the disputed transactions occurred, and no reviewed BSP finding resolves that question.

When will the affected cash-ins return?

Coins.ph has expressed an expectation that affected services will return, but the reviewed material provides no firm restoration date. Customers should distinguish a company expectation from a confirmed timetable.

KEY TAKEAWAYS

  • Keep the claims separate — active licenses, restricted payment functions and unresolved allegations concern different questions.
  • Read service labels narrowly — company-listed operations are not independent tests or guarantees for every customer and network.

Sources

Filed under gambling regulation
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Written by

Aevan Lark

Aevan Lark is a gambling industry veteran with over 7 years of experience working behind the scenes at leading crypto casinos — from VIP management to risk analysis and customer operations. His insider perspective spans online gambling, sports betting, provably fair gaming, and prediction markets. On Dyutam, Aevan creates in-depth guides, builds verification tools, and delivers honest, data-driven reviews to help players understand the odds, verify fairness, and gamble responsibly.

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