Largest Philippines crypto exchange, Coins.ph, said to face central bank regulatory action
60-second summary
Coins.ph, the Philippines’ largest crypto exchange with more than 18 million users, faces regulatory action from the Bangko Sentral ng Pilipinas after investigators allege it processed transactions for restricted offshore gaming and gambling firms; the crackdown could force tighter AML compliance, prompt user migration to rival platforms, and dampen domestic crypto adoption momentum.
The exchange, which has over 18 million customers, is said to have handled business transactions involving restricted offshore gaming and gambling companies.