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      Coinsph Confirms Validity of Licenses Amid Rumors of Revocation

      Coinsph, a cryptocurrency trading platform based in the Philippines, has confirmed that its virtual asset service provider (VASP) license under Betur Inc. and its electronic money issuance (EMI) license from DCPay Philippines remain valid. This statement comes in response to reports suggesting that the platform could face license revocation due to alleged involvement in illegal offshore betting transactions.

      The company has denied any association with non-compliant offshore betting operators, asserting that it does not provide services to such entities. Coinsph clarified that the restrictions imposed by the Bangko Sentral ng Pilipinas, the central bank of the Philippines, are limited to fiat currency top-ups to DCPay via InstaPay and PESONet, while its cryptocurrency trading, withdrawals, and other payment services continue to operate normally.

      Coinsph also acknowledged the central bank's request for enhanced internal control measures and stated that it is cooperating with regulatory requirements. However, the Bangko Sentral ng Pilipinas has refrained from commenting on specific regulatory issues related to Coinsph.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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