MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP), which is the country’s main bank regulator, made a big announcement on Thursday. They told all e-wallet apps—like the ones people use to send money, buy load, or pay bills—that they must remove any links or buttons that lead to online gambling sites.
BSP Deputy Governor Mamerto Tangonan explained this during a Senate hearing. He said the BSP gave the e-wallet companies only 48 hours—that’s just two days—to follow the order.
Tangonan shared that this short deadline is to make sure that all financial institutions under BSP’s control quickly take away any in-app icons or website links that allow people to join or play in online gambling.
But the BSP also wants to make sure customers are not caught off guard. That’s why they will give players time to take out their money from their online gambling accounts before the links are removed from the apps and websites.
In short, BSP is acting fast to block easy access to online gambling through e-wallets, but they are also giving people a chance to safely get their money back first.
