Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 12450
Markets: 96130
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
12450
Cryptocurrencies
55.82%
Bitcoin Share
coinpedia 2025-01-08 18:05:10

Portugal’s Major Bank Blocks Fiat Transfers to Crypto Platforms Amid Growing Regulatory Concerns

Portugal’s Major Bank Blocks Fiat Transfers to Crypto Platforms Amid Growing Regulatory Concerns

The post Portugal’s Major Bank Blocks Fiat Transfers to Crypto Platforms Amid Growing Regulatory Concerns appeared first on Coinpedia Fintech News Portugal’s Banco de Investimentos Globais (BiG) has suspended fiat transfers to cryptocurrency platforms, citing compliance with European Central Bank (ECB) guidance on risks associated with virtual assets. The decision was brought to attention after an email to customers, warning about the bank’s new policy. This move follows increasing regulatory scrutiny of crypto markets in Europe, including the European Union’s push for stricter guidelines under the Markets in Crypto Assets (MiCA) regulation. However, some experts argue that this move might backfire by pushing users toward decentralized platforms, outside the control of traditional banks. Despite this shift from BiG, other major Portuguese banks, like Caixa Geral de Depósitos are reportedly still processing crypto-related transfers. This development could mean a more cautious approach from financial institutions in Portugal, despite the country’s historically crypto-friendly stance, such as exempting crypto transactions from VAT and capital gains tax. Delphi Labs co-founder José Maria Macedo wrote on social media, “One of the largest Portuguese banks BIG is now blocking transfers to crypto exchanges, citing ECB guidance about risks associated to virtual assets. Crypto is inevitable, banks are dead, and these abuses of power will only “redpill” more people into moving their wealth on-chain, This is part of a wider trend, where stricter regulations are being introduced. Portugal was once considered a crypto tax haven, with no VAT or capital gains tax on cryptocurrency. But in 2023, it introduced a 28% capital gains tax on short-term crypto holdings. While some nations, like El Salvador, have scaled back crypto adoption due to economic challenges, Portugal’s evolving stance reflects broader global concerns about the risks associated with digital currencies.

Most Read News



Cryptohopper
hardware wallets, hardware , wallets, Crypto Currency, Cryptocurrency hardware wallets, Crypto Apparal, crypto wallet, Cryptocurrency wallets

Market Cap
24h Vol
55.82%
Bitcoin Share
142
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.