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portugal News and Articles



Portugal

Portuguese Banks Start Closing Bitcoin Exchange Accounts

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In Portugal, commercial banks have begun to close accounts owned by cryptocurrency exchanges. Credit institutions motivate their decision by the fact that investments in digital assets are associated with high risks. The Central Bank of Portugal has not yet reacted to the information received,...

Portugal crypto tax

Portugal's Parliament Rejects Crypto Tax Bills

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During a budget voting session on May 25, the Parliament of Portugal rejected proposals to tax BTC and other cryptos. The bills suggested taxing crypto profits in excess of €5,000 (equal to $5,340.45). Since 2018, Portugal has considered taxing individual crypto sales. Currently, the country...

Portugal banks crypto

Portugal CB Granted the First Crypto License to a Bank

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Portugal’s Central Bank has granted a license to Bison Bank to establish the first crypto bank in the country. According to a report by the local media Sapo, Bison Bank is authorized to launch Bison Digital Assets, a company that will deliver custodial and exchange services of cryptos. Thus,...

Portugal

The CB of Portugal issued BTC licenses to crypto exchanges

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Bitcoin exchanges received licenses from the Central Bank of Portugal, giving them the right to operate in the country. In early 2021, Portugal entered into force a law regulating the operation of trading platforms focused on the cryptosphere. The press center of the Central Bank said that the...

Revolut fires employees

Revolut employees told about wave of layoffs under pressure

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More than 50 Revolut fintech startup employees have lost their jobs. The company invited them to either write a letter of resignation by agreement of the parties with the payment of a small compensation or to be dismissed for unsatisfactory work, reports Wired. Layoffs affected Revolut employees...

Bitcoin trading and payments are now tax-free in Portugal

Bitcoin trading and payments are now tax-free in Portugal

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As it was reported on August 27, the tax authority of Portugal has affirmed that and crypto trading and crypto payments won’t be taxed in their country. According to information published by Portuguese Jornal de Negócios on August 26, the authority has approved that cryptocurrency activities and...

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