Coins.ph, one of the largest crypto exchanges in the Philippines, denied on Wednesday any claim that it knowingly serves offshore gambling operators. The platform, which records approximately $52 million in 24-hour spot trading volume, stated that user funds are safe and that it continues to operate as a BSP-licensed institution. The restrictions imposed by the central bank targeted DCPay’s payment operations, the entity holding an electronic money issuer license, and not the crypto asset services operated by Betur Inc. under a separate license. The BSP had instructed Coins.ph to strengthen its internal controls.
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