Coins.ph Gambling Link Allegations Put Crypto Exchange License at Risk

Coins.ph, the largest cryptocurrency exchange in the Philippines, is facing potential regulatory action from the Bangko Sentral ng Pilipinas. The allegations are that it processed transactions for restricted offshore gambling operators. The central bank is weighing sanctions against the exchange, and license revocation remains on the table depending on how deep the violations run. The exchange has over 18 million customers and handles roughly 75% to 80% of all trading between the Philippine peso and stablecoins. Its 24-hour spot trading volume is about $50 million.

Source: TheNewsCrypto