Coins.ph has published a user advisory following a regulatory directive from the Bangko Sentral ng Pilipinas (BSP) instructing its operating entity, DCPay Philippines Inc., to enhance its internal controls. As a result of the order, incoming Philippine Peso (PHP) top-ups and cash-ins through major local banking channels are temporarily unavailable, as previously reported by BitPinas.
Inbound Transfers Temporarily Blocked
Under the central bank’s directive, Coins.ph users cannot currently receive funds or cash in via InstaPay, PESONet, or incoming QRPh collection services. This restriction affects incoming transfers originating from external commercial banks, digital banks, and e-wallets across the Philippine payment network. (Read More: AMLC: Court Freezes 25 Crypto Wallets, 86 Bank Accounts in Flood Control Plunder Probe)
While incoming peso transfers are restricted, Coins.ph emphasized that core wallet features and outbound transactions remain operational for all existing users.
Service Availability Breakdown
| Service / Feature | Current Status | Notes |
| Inbound PHP Cash-In | Suspended | InstaPay, PESONet, and incoming QRPh collection services are unavailable. |
| Outbound Cash-Out | Active | Users can withdraw funds to external banks and e-wallets. |
| Merchant QRPh Payments | Active | In-store scanning and payment via QRPh remain functional. |
| Bill Payments | Active | Standard utility and biller payments remain available. |
| Crypto Trading | Active | Buying, selling, and holding digital assets remain operational. |
Coins.ph assured users that all customer account balances and wallet funds remain completely safe and held in accordance with strict BSP regulatory standards.
The platform’s cryptocurrency services which operate under virtual asset service provider (VASP) licensee Betur Inc. continue to function normally. However, users looking to purchase crypto using fresh fiat deposits will need to rely on existing balance holdings until local bank cash-in channels are reopened.
Coins.ph stated it is working closely with the central bank to complete the required internal control enhancements within the set regulatory timelines, and service updates will be posted on its official advisory page as cash-in methods are restored
This article is published on BitPinas: Coins.ph Releases Statement to Users Regarding Cash-In Suspension
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