Latest news and stories about investment in crypto in Portugal for expats and residents.
European Union member states are exploring the possibility of introducing a bloc-wide tax on capital gains from crypto-assets. The proposal is currently being considered as part of negotiations for the next EU multiannual budget to generate new community revenue.
The National Association of Payment and Electronic Money Institutions (Associação Nacional de Instituições de Pagamento e Moeda Eletrónica or ANIPE) has warned that the Portuguese crypto-asset market risks paralysis following the end of the transition period for the European Markets in Crypto-Assets (MiCA) regulation on July 1st. The association has requested urgent clarification from the Bank of Portugal (Banco de Portugal) and the Securities Market Commission (Comissão do Mercado de Valores Mobiliários or CMVM) regarding the status of pending authorization processes.
The CMVM is Portugal's securities market regulator (Comissão do Mercado de Valores Mobiliários), which supervises stock markets, investment firms and investor protection. The CMVM will shortly present a proposal to the Government for Savings and Investment Accounts (CPI), so investors should follow the proposal for changes to retail investment options.
MiCA (Markets in Crypto-Assets) is a comprehensive European Union regulation designed to standardize rules for crypto-asset service providers across all member states. It requires companies to obtain specific authorization to operate, ensuring greater consumer protection and market transparency compared to the previous fragmented national frameworks.
The implementation of new European regulations has led to a reduction in the number of crypto-asset operators active in Portugal.
A scammer involved in cryptocurrency fraud has been placed in preventive detention after stealing 1.5 million euros. Another accomplice, who took over 500,000 euros, faces restrictions including daily check-ins and a ban on financial transactions globally.
Binance resumed cryptocurrency withdrawals in phases this Sunday, more than two days after suspending them following a cyberattack that siphoned off over 6 billion dollars, reports Bloomberg (paywall). The reopening began with bitcoin, following the halt announced on Friday morning in Asia.
More than 5.6 billion euros in cryptocurrency disappeared from the Binance platform. The attack took place in less than half an hour, and Binance stated that it will cover any loss that cannot be recovered.
The attack is believed to have originated in North Korea. The cryptocurrency firm states it will cover user losses.
Binance, the world's largest cryptocurrency exchange, disclosed this Friday, October 10th, that a cyberattack has resulted in an estimated impact of 6.3 billion dollars (5.6 billion euros). In a statement, the company explained that preliminary investigations suggest attackers compromised an operations engineer's laptop, gaining access to a platform system to execute unauthorized withdrawals. Binance stated that no evidence has been found yet that private keys of digital wallets were compromised and pledged to release a detailed technical report upon completion of the investigation. The company indicated it has worked with industry partners to freeze approximately 3 billion dollars (2.7 billion euros) in affected assets, though the definitive loss amount and recovery potential are not yet determined. The platform guaranteed it will cover all potential losses through its user protection fund, SAFU, and internal resources, ensuring customer funds are protected. As a precaution, Binance has temporarily suspended deposits and withdrawals, revoked compromised access authorizations, and requested collaboration from authorities and transaction-tracking firms. The incident led to declines in major cryptocurrencies, with Bitcoin falling over 3% to approximately 77,400 dollars (69,190 euros), while Ether and BNB also recorded losses. Founded in 2017 in Shanghai by Changpeng Zhao, Binance moved operations out of China following regulatory restrictions and now operates internationally without a single central headquarters.
The attack is described as the most serious in the cryptocurrency world, surpassing a previous incident with Bybit
The cryptocurrency trading platform Binance reported this Thursday that it was the target of a massive cyberattack, which is being described as the largest ever in virtual currencies, and that it has frozen more than 2.5 billion dollars (about 2.25 billion euros) to prevent the improper withdrawal of funds.
Binance stated that it has found no evidence that the private keys of its digital wallets were compromised and promised to release a detailed technical report.
Binance, the world's largest cryptocurrency exchange, revealed today that the cyberattack it was subjected to has an estimated impact of 6.3 billion dollars (5.6 billion euros).
Bitcoin Suisse enters the Portuguese market, focusing its strategy on attracting institutional clients.
The Swiss financial services firm is expanding into the Portuguese market, leveraging the European Union's Markets in Crypto-Assets (MiCA) regulation.
Those wishing to buy a fraction of a Tesla or Nvidia share no longer need to wait for Wall Street to open, provided they do so on tokenised share platforms, where it is possible to trade at night and on weekends. This schedule flexibility is attracting an increasing number of small investors...
The permanent trading of tokenised assets, the almost immediate settlement of transactions and the automatic execution of contracts could accelerate sell-offs during periods of tension and transmit difficulties to traditional markets, warns the International Monetary Fund (IMF). The warning is included in chapter 3 of the 'Global Financial Stability' report, published this Thursday. It is in this sense that...
The European Parliament's proposal also considers other sources of revenue, such as a contribution on online gambling and a tax on capital gains from crypto-assets
The asset: Bitcoin is the world's largest and most popular cryptocurrency. Created in 2009 by an investor under the pseudonym Satoshi Nakamoto, bitcoin is a decentralised crypto-asset that allows for digital transactions without the need for a central intermediary and without being dependent on a central bank. Digital currencies, such as bitcoin, ...
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Isabel Schnabel argued that the technology could integrate financial infrastructures divided by national borders — but warned that stablecoins do not replace central bank money.
Gama Leão closes insolvency with only 57.8 thousand euros recovered from a debt of 392.7 million. Mota-Engil will challenge its exclusion from the Oiã-Soure high-speed rail tender, while SIBS's Definancy awaits a license to operate with crypto-assets. Meanwhile, the Portuguese Industrial Association warns that the labor shortage is limiting...
The crypto-asset service provider project from SIBS is facing delays in obtaining authorisation from the Bank of Portugal.
Portugal has been selected as one of the initial three markets for the launch of Revolut's latest stablecoin offering.
The 81,000 dollar mark had not been surpassed since May 15th
