Coins.ph users face app lockout as central bank intervenes
Its October 14 response emphasizes controls to exclude offshore gambling operators and says it continues as a BSP-licensed institution. Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox
AI summary
The Bangko Sentral ng Pilipinas has intervened in Coins.ph, leaving users locked out of the app, according to the exchange's October 14 response. Coins.ph said it is implementing controls to exclude offshore gambling operators and stressed it remains a BSP-licensed institution. The lockout raises concerns about user access to funds and regulatory pressure on a major Philippine crypto exchange, a negative signal for local crypto confidence.
