Philippines Central Bank Restricts Coins.ph Inbound Rails Over Gambling Ties
Photo: Forkast
Philippine regulators have restricted the inbound funding channels for the country’s largest crypto exchange, a move that precedes any formal license revocation. In the world of digital finance, control is not always exercised through public announcements or formal hearings. It is frequently exercised at the point of settlement, where the fiat currency meets the digital asset rail. According to a CoinDesk report , Coins.ph serves over 18 million customers and handles roughly 50 million dollars in 24-hour spot trading volume. More importantly, the exchange controls an estimated 75 percent to 80 percent of peso-to- stablecoin liquidity in the Philippines.
Source: Forkast
