#BSP gambling directive

She attributed the drop to the Bangko Sentral ng Pilipinas (BSP) directive ordering payment platforms to remove icons and links that redirected users to online gambling sites. The BSP issued the order on August 14, following a Senate inquiry into stricter regulations or a potential ban on online gambling. She added that the regulator has also observed a decline in new online gambling players since the directive took effect. The BSP said it is finalizing new regulations for e-wallets and banks that will include limits on betting amounts, restrictions on gaming top-ups, and a ban on using online loans for gambling. The Bangko Sentral ng Pilipinas (BSP) has ordered e-wallets to unlink their platforms to online gambling sites within 48 hours. BSP Deputy Governor Mamerto Tangonan has stated that they have issued an order for e-wallet platforms to remove links in-apps to allowing users to use e-gambling sites. The Bangko Sentral ng Pilipinas (BSP) announced in a press release that it is “finalizing new rules” for banks, e-wallets, and other financial service provides to adopt ‘stronger safeguards’ against online gambling. The BSP also plans to impose daily limits on gambling-related transactions, time-based restrictions for gambling payments, and user-controlled tools that allow individuals to set personal spending caps, take voluntary breaks, or block themselves entirely from gambling activities. Read more in our articles including "PAGCOR revenue drops nearly half after e-wallets cut gambling links" and "BSP issues e-wallets to unlink from online gambling sites".