Coins.ph, the Philippines’ largest crypto exchange, faces potential license revocation by the Bangko Sentral ng Pilipinas (BSP), the country’s central bank. The BSP imposed deposit restrictions on Coins.ph in October 2026, affecting transaction capabilities through its primary wallet operator. These measures come amid a broader crackdown on POGO operators (Philippine Offshore Gaming Operators), permanently banned since Executive Order No. 74 in 2024 and further solidified by Republic Act 12312. The exodus of compliance talent, including Chief Compliance Officer Lexi Herrera and two AML specialists in 2026, has compounded the company’s challenges. Coins.ph, which dominates the local peso-to-crypto ramp market, suspended gaming-related advertisements in August 2025.
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