CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
coinpedia 2025-01-08 18:05:10

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.

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta