Dozen Crypto Companies Await Portugal License Despite Bank Account Closures
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....
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The Bank of Portugal has licensed all of the exchanges that have had their accounts closed, including Criptoloja, Mind The Coin and Luso Digital Assets. Several large banks in Portugal have reportedly begun closing the accounts of cryptocurrency exchanges due to "risk management" concerns, suggesting a shift in Portugal's pro-crypto position. The country's central bank appears to have given the financial institutions the green light to take action.Several of Portugal's top banks recently closed the accounts of CriptoLoja, the country's first cryptocurrency exchange to obtain a license to....
Major Portuguese banks have started closing or refusing to open accounts for cryptocurrency platforms such as exchanges, according to media reports. The move threatens to tarnish the country’s image as one of Europe’s most crypto-friendly destinations, a haven for bitcoin enthusiasts.
Portuguese Crypto Firms Hit by Bank Account Closures
Portugal, a leading European crypto hub, is risking the loss of its attractiveness for crypto businesses and talent working in the industry as some of its largest banks are now closing accounts of companies operating with digital....
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,”....
Bison Bank will offer its digital asset services to high net worth individuals, becoming the first banking institution in the country authorized to do so. Portuguese based bank Bison Bank has received permission from Portugal’s Central Bank (Banco de Portugal) to operate as a “virtual asset service provider ”(VASP), making the first bank in the country to be given the green light by the regulator.On Thursday, Banco de Portugal updated its list of virtual asset service providers adding “Bison Digital Assets” as the country's’ fifth licensed crypto exchange. The company is newly created to....
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 […]