Philippines’ largest crypto exchange Coins.ph faces possible license revocation

Coins.ph, the Philippines’ largest cryptocurrency exchange, could face sanctions from the central bank over allegations it provided services to overseas gambling operators, CoinDesk reported. Given the severity of the alleged violations, possible revocation of its operating license is also being discussed. One person familiar with the matter said a license revocation could deal a major blow to the Philippines’ cryptocurrency ecosystem. Coins.ph has more than 18 million customers and about $50 million in 24-hour spot trading volume.