(Aug 14): The Philippine central bank has ordered mobile wallets, payment applications and other supervised institutions to remove links to online gambling platforms.
The financial firms have 48 hours to take down icons redirecting to Internet betting, Bangko Sentral ng Pilipinas deputy governor Mamerto Tangonan said at a Senate hearing on Thursday, citing a decision from the central bank’s policy-making Monetary Board.
Senators are tackling proposals to either restrict or ban online gambling amid concerns over debt and addiction. President Ferdinand Marcos Jr earlier said a ban could stoke illegal online betting.
E-wallets like GCash, owned by fintech unicorn Mynt and valued at US$5 billion (RM21 billion), have been instrumental in…