Central Banks of Serbia and Portugal Warn Bitcoin Users
Serbia's Central Bank warns consumers against "virtual currency" such as Bitcoin, stating that digital currencies weren't backed by any Central Bank and that users weren't protected from trade-related risks. Serbian Central Bank, the National Bank of Serbia (NBS), issued on October 2, a warning about the use of digital currencies such as Bitcoin. The release stated: The authority stated that, while digital currency exchange platforms can be registered as economic entities, they aren't regulated in a way that protects users from trade-related risks. Thus, consumers are not covered by any....
Related News
Following up on reports this past weekend noting that the central bank of Portugal had issued a warning pertaining to the use of bitcoin and digital currencies comes news that Serbia is doing much the same. In a statement issued today, the National Bank of Serbia (NBS) wants to make it clear to Serbian citizens that bitcoin (and other digital currencies) is not considered to be legal tender. Of course, the central bank has pulled the cards we're well familiar with when it comes to explaining the risks associated with digital currencies. They aren't guaranteed, users aren't protected....
Often times, we hear central banks from around the world warn the consumers of their respective countries to take caution when dealing with digital currencies, and the central bank of Portugal has done the same. Portuguese news agency RTP reports that the bank specifically warned about the "risks of using virtual coins" - which comes conveniently close the time when the country's first bitcoin ATM launched in Lisbon today. The bank declares quite controversially that "virtual currencies are not safe," citing the fact that bitcoin and other cryptos are not supervised or regulated by any....
The central bank of Portugal is now reviewing 12 requests from businesses that want to provide crypto-related services in the country. The applications are pending decision amid recent reports that some commercial banks are closing accounts of already approved operators.
Binance Among Cryptocurrency Platforms Seeking Authorization in Portugal
Portugal’s monetary authority is currently evaluating requests submitted by 12 entities that intend to offer Portuguese clients services for virtual assets, Dinheiro Vivo unveiled. The crypto firms need a license from Banco de....
Portugal now has two approved cryptocurrency exchanges. The country’s central bank, the Banco de Portugal, has licensed Mind the Coin and Criptoloja. In Portugal, the central bank is responsible for registering entities that intend to act as virtual asset service providers (VASPs). The bank must also ensure that they are in compliance with the legal and regulatory provisions on the prevention of money laundering and terrorist financing (AML/CFT). Mind the Coin supports bitcoin, litecoin, and monero. “Buy bitcoin or other cryptocurrencies at our terminals or P2P online,”....
In another win for the adoption of blockchain technology and cryptocurrencies, the Central Bank of Portugal (Banco de Portugal) has officially announced that they will begin approving licenses for crypto exchanges to operate within the country. Two have already been granted. This is the first time that crypto asset exchanges are able to operate within […]