The Central Bank of the Philippines (BSP) has ordered domestic electronic wallets (e-wallets) to sever online gambling links within 48 hours, following a strong call from the Senate for a complete ban.

The Central Bank of the Philippines (BSP) has ordered domestic electronic wallet (e-wallet) platforms to remove all icons and links to online gambling platforms within 48 hours. Deputy Governor Mamerto Tangonan stated at the Senate Committee on Gaming and Entertainment hearing on August 14 that the Monetary Board has approved the relevant policy, formally requiring regulated institutions to completely disengage from gambling applications.

Committee Chairman Elwin Tulf warned that if the implementation is not completed by August 17, they will be prosecuted for contempt of court. He emphasized that online gambling is causing a national crisis and must be "completely banned, criminally prosecuted, platforms blocked, servers seized," and legal responsibilities pursued for those in the government and private sector who profit from it.

Currently, the Senate has proposed three bills to completely ban online gambling, with two others demanding enhanced regulation. Senator Pia Cayetano, who supports the complete ban, pointed out that 66% of youths aged 18 to 24 participate in online gambling, leading to academic setbacks, debt problems, mental health issues, and connections to money laundering and cybercrime.

She revealed that the total revenue from gambling in the Philippines increased from 12.9 billion pesos in 2020 to 154 billion pesos in 2024, but questioned: "Is this revenue worth the cost of young people, families, and lives?"