A bill filed in the House of Representatives seeks to impose penalties of up to P5 million on electronic wallet platforms found facilitating online gambling.
The proposed legislation targets e-wallet service providers that allegedly enable or promote illegal gambling activities through their platforms. According to lawmakers, the measure includes provisions for the possible revocation of operating licenses for violators.
The bill was introduced in response to reports citing a rise in online gambling, which authorities link to the ease of access provided by digital payment services. Lawmakers backing the proposal emphasized the importance of regulatory oversight to protect consumers and safeguard financial systems from misuse.
Under the bill, platforms found to be knowingly supporting gambling operations would be subject to fines and other sanctions. The measure is currently pending further deliberation in the House of Representatives.