Multiple Portuguese banks have begun closing crypto exchange accounts for “risk management” reasons, and the country’s central bank appears to have given the financial institutions its approval. Portugal has become a crypto haven in recent years due to the absence of a capital gains tax on crypto-related earnings. However, in recent months, the government and financial sector appear to have become more eager to regulate cryptocurrency in line with other EU nations.
Major banks have closed accounts of crypto exchanges!
At least four domestic cryptocurrency exchange accounts have reportedly been closed by a long list of banks, including the titans Banco Comercial Portugues (BCP) and Banco Santander, as well as Caixa Geral de Depósitos, BiG, and Abanca. Reports from multiple medias keeps on coming
The central bank of Portugal, which regulates domestic cryptocurrency trading platforms, has registered all of the exchanges. Three of the exchanges’ identities were made public: Criptoloja, Mind The Coin, and Luso Digital Assets. A fourth exchange requested media anonymity.
Despite adding that he was “monitoring the matter,” Bank of Portugal Governor Mário Centeno was quoted as saying that financial institutions were free to act as they saw fit.
At least four domestic cryptocurrency exchange accounts have reportedly been closed by a long list of banks, including the titan’s Banco Comercial Portugues (BCP), Banco Santander, and Caixa Geral de Depósitos, BiG, and Abanca.
The central bank of Portugal, which regulates domestic cryptocurrency trading platforms, has registered all exchanges. Three exchanges’ identities were made public: Criptoloja, Mind The Coin, and Luso Digital Assets. A fourth exchange requested media anonymity.
Despite adding that he was “monitoring the matter,” Bank of Portugal Governor Mário Centeno was quoted as saying that financial institutions were free to act as they saw fit.
