Regulation· ★★· neutral·

Philippines Central Bank Tightens E-Wallet and QR Ph Rules After Illegal Casinos Posed as Bakeries and Salons

  • —BSP flagged over 8,000 merchant accounts tied to illegal online casinos
  • —The scheme used ₱50 micro-transactions at night routed through ordinary merchants' QR codes
  • —E-wallet operators must collect business permits and verify merchants against government databases
  • —Repeated failures to stop illegal activity could cost platforms their payment licenses
Why it matters: The Philippines is tightening QR payment oversight, a move that could affect crypto and fintech platforms relying on third-party payment aggregators.
Source: BitPinas
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