Philippine Central Bank Limits Fiat Deposit Channels for Coins.ph

The Philippine central bank has implemented partial suspension measures on DCPay Philippines, the electronic money operating entity behind Coins.ph, prohibiting it from receiving external fund transfers via InstaPay and PESONet. This restriction targets DCPay's peso payment and settlement operations. The cryptocurrency trading operations of Coins.ph are run 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 remittances and QRPh merchant payments. The status page of Coins.ph indicates that the relevant deposit services are under maintenance, while withdrawals are functioning normally.

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