Last week, the Central Bank of the Philippines (BSP) suddenly ordered that all e-wallets must remove links to online gambling platforms and suspend related services within 48 hours, until new regulations are officially introduced. This move is seen as a major shake-up in the field of online gambling payments in the Philippines.
According to the central bank, the upcoming regulatory measures will cover the following aspects:
Stricter identity verification: Users will need to complete verification through biometric methods such as facial recognition and fingerprints to prevent fraudulent account creation and underage participation.
Transaction limits: Daily betting amounts will be capped, and a "gambling ban mechanism" will be implemented during specific periods to prevent excessive addiction.
Self-protection tools: Users can set their own spending limits, or even choose a "self-imposed gambling vacation" to strengthen personal control.
This tough measure means that the electronic payment and gambling industries in the Philippines are about to enter a stricter era of compliance. Industry insiders generally believe that the new regulations will reshape the cooperation model between online gambling and e-wallets, and may also encourage gambling platforms to turn to more diversified payment channels.
Postscript: The Philippines is about to launch improved regulatory measures for local gambling.
Comments0
Go ahead, what does it matter, I'm numb to it now.
On the subway, I can see Xiao Fei playing the slot machines on the subway, totally engrossed.
The Pony government has only now realized that the title of a money-laundering country makes no difference; no one comes to invest anyway. Hilarious.
Use up the remaining value and then discard it.
Still enjoying being the dark prince
Earning a living in the Philippines is really not easy.
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