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Door Remote - 14 Oct 2026
The restrictions follow the departure of several high-profile compliance staffers, including chief compliance officer Lexi Herrera, the head of anti-money laundering (AML) transaction monitoring Chris Beaño and money laundering reporting officer Irish Calagui.
Coins.ph said it is aware of recent news reports about its operations, including claims about offshore gaming transactions and its engagement with the Bangko Sentral ng Pilipinas, in a statement shared with Coindesk after the publication of this article.
The exchange said users’ funds are safe, and the firm continues to operate as a BSP licensed institution and expects to fully restore affected services soon.
“Coins.ph firmly denies any claim that it knowingly serves offshore gaming or gambling operators. We hold ourselves to the requirements and standards of the BSP, AMLC and other regulatory authorities, and full compliance sits at the core of how we operate,” Coins.ph said in the emailed statement.
“We value the media’s role in keeping the public informed and welcome the opportunity to share our perspective. We remain open to engaging with journalists and providing accurate information about Coins.ph,” it said.
The Philippines central bank had not responded to requests for comment by publication time.
A little over a year ago, the central bank clamped down on the use of e-wallet applications for gambling purposes, demanding institutions under its supervision cut in-app access to gambling sites.
Coins.ph said it is aware of recent news reports about its operations, including claims about offshore gaming transactions and its engagement with the Bangko Sentral ng Pilipinas, in a statement shared with Coindesk after the publication of this article.
The exchange said users’ funds are safe, and the firm continues to operate as a BSP licensed institution and expects to fully restore affected services soon.
“Coins.ph firmly denies any claim that it knowingly serves offshore gaming or gambling operators. We hold ourselves to the requirements and standards of the BSP, AMLC and other regulatory authorities, and full compliance sits at the core of how we operate,” Coins.ph said in the emailed statement.
“We value the media’s role in keeping the public informed and welcome the opportunity to share our perspective. We remain open to engaging with journalists and providing accurate information about Coins.ph,” it said.
The Philippines central bank had not responded to requests for comment by publication time.
A little over a year ago, the central bank clamped down on the use of e-wallet applications for gambling purposes, demanding institutions under its supervision cut in-app access to gambling sites.