In an unprecedented move, Banco de Portugal has granted operating licenses to the local cryptocurrency trading platforms, “Mind the Coin” and “Criptoloja”. For the first time, these entities are endorsed as legitimate virtual assets service providers under the Portugal crypto license initiative.
This pivotal announcement, which exclusively highlights these two platforms, was featured on the central bank’s official website after a rigorous nine-month evaluation and decision-making process. The licensing journey began when Criptoloja initially registered in September 2020 to offer its virtual asset services.
Mostbet Login is now accessible to users on both platforms, marking a significant milestone in the Portuguese crypto landscape.
Implications and Recognition of the Crypto License
Thanks to the licenses, Criptoloja and Mind the Coin are now authorized to provide cryptocurrency exchange services in Portugal. They will be able to conduct transactions between virtual assets and fiat currencies. In addition, they will be able to provide such services as transfers, protection of digital assets, and so on.
Portugal is currently recognized as one of the most cryptocurrency-friendly countries in Europe. The country offers a favorable environment for crypto enthusiasts and professionals. The well-known investor Jean Galea called Portugal a haven for people working in the cryptocurrency field.
A separate advantage is that income from cryptocurrency transactions in Portugal is exempt from capital gains taxes and VAT, but only if they are not related to professional trading.
Expanding Crypto Landscape in Europe
Aside from Portugal, other European nations too have warmly embraced the field of crypto trading and services. As crypto acceptance expands, various countries have emerged as significant players in the crypto exchange landscape:
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Malta: Known for its proactive stance towards blockchain and crypto.
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Estonia: Recognized for its supportive regulatory environment for crypto businesses.
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Switzerland: Often cited for its crypto-friendly policies and the “Crypto Valley” in Zug.
A New Dawn for Crypto Traders in Portugal
Conclusively, Criptoloja is trying to unify Portuguese residents keen on investing in digital assets. Despite being cautious about initiating accounts for overseas trades, the service provider is seeing interest among the investors in the country. The growing acceptance of cryptocurrencies in Portugal is indicative of a shifting tide, ushering in a new generation of traders enthusiastic about digital currencies. This trend points to a promising future for both investors and the industry.
Implementation of Cryptocurrency Projects
Prifinance team of experts offers not only advice and services to address specific issues. They also carry out extensive development and launch of large-scale cryptocurrency projects, including in Portugal. Professionals carefully study the market dynamics and coordinate all strategies, understanding all the needs and desires of clients.
