Regulatory chaos in the Philippines: PAGCOR suspended the issuance of gambling licenses!
The largest iGaming regulator in the Philippines, PAGCOR, has ceased issuing gambling licenses. New applications are currently being…
The largest iGaming regulator in the Philippines, PAGCOR, has ceased issuing gambling licenses. New applications are currently being reviewed, and the timeline for resuming license issuance is unknown.
Roman Baranovskyi, Senior Associate at SBSB Fintech Lawyers, comments on the situation:
“Operators should take into account the Philippines’ ambiguous reputation in Asia. For companies targeting Asian markets, complying with Philippine regulations presents a serious challenge due to the Financial Action Task Force (FATF) gray list.”
PAGCOR explains the moratorium as necessary for updating the regulatory framework and guidelines for the gaming industry. However, the true reasons for this step remain unclear.
If you planned to obtain a license for your iGaming project through PAGCOR, this is temporarily impossible due to the moratorium. However, we are ready to offer other, more effective solutions for your gambling business. Contact us and we will find the best alternative for you in no time!
