THE Bangko Sentral ng Pilipinas (BSP) has issued a directive ordering electronic wallet providers, including popular platforms GCash and Maya, to sever all links to online gambling platforms within 48 hours.
The order was announced by BSP Deputy Governor Memento Tangonan during a Senate hearing conducted by the Games and Amusement Committee, chaired by Senator Erwin Tulfo, on Thursday.
The BSP’s move aims to protect consumers and prevent the exploitation of financial systems for unregulated gambling activities.
“The Monetary Board has approved our policy that we asked or we order, direct the BSP supervised institutions to take down and remove all icons and links redirecting to gambling sites,” Tangonan stated.
The BSP’s decision reflects its commitment to safeguarding the financial well-being of Filipinos and ensuring the responsible use of digital financial services. In response to the BSP’s directive, GCash issued a statement affirming its commitment to full compliance.
“We share the BSP’s commitment to ensuring that digital financial services are used responsibly and in ways that protect the welfare of Filipinos,” GCash said, adding that it would immediately enforce the necessary changes upon receiving the official directive.
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