The Central Bank of the Philippines restricts the fiat deposit channel for the local cryptocurrency exchange Coins.ph

The Central Bank of the Philippines has implemented partial suspension measures on DCPay Philippines, the electronic money operating entity behind Coins.ph, prohibiting it from receiving external transfers through InstaPay and PESONet. This restriction targets DCPay's peso payment and settlement operations.

The cryptocurrency trading business of Coins.ph is operated by another licensed entity, Betur Inc., which has not been directly suspended, but user deposits through local banks will be affected.

The regulatory directive still allows DCPay to conduct outward transfers and QRPh merchant payments. The status page of Coins.ph shows that the related deposit services are under maintenance, while withdrawals are functioning normally.