What is the current regulatory environment for cryptocurrencies in Portugal?

3 answers

• Dec 30, 2021 · 3 years ago
  The current regulatory environment for cryptocurrencies in Portugal is relatively favorable. The country has taken a progressive approach towards cryptocurrencies, recognizing them as a legitimate form of payment and investment. The Portuguese government has implemented regulations to prevent money laundering and terrorist financing, requiring cryptocurrency exchanges and wallet providers to comply with anti-money laundering (AML) and know-your-customer (KYC) regulations. However, there are no specific laws or regulations that govern the use and trading of cryptocurrencies in Portugal.
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• Dec 30, 2021 · 3 years ago
  In Portugal, cryptocurrencies are considered as a means of payment and investment. The government has not imposed any restrictions on their use or trading. However, individuals and businesses involved in cryptocurrency activities are required to comply with anti-money laundering and know-your-customer regulations. This means that cryptocurrency exchanges and wallet providers must verify the identity of their users and report any suspicious transactions to the authorities. Overall, the regulatory environment for cryptocurrencies in Portugal is relatively lenient, allowing for innovation and growth in the industry.
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• Dec 30, 2021 · 3 years ago
  As a representative of BYDFi, a digital currency exchange, I can say that the regulatory environment for cryptocurrencies in Portugal is quite favorable. The government has recognized the potential of cryptocurrencies and has taken steps to regulate the industry. Cryptocurrency exchanges in Portugal are required to register with the Portuguese Securities Market Commission (CMVM) and comply with anti-money laundering and know-your-customer regulations. This ensures a safer and more transparent environment for cryptocurrency trading in the country.
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