Is cryptocurrency banned in Portugal?
In recent years, Portugal has been actively pursuing a quality immigration policy, and wealthy people have become more immigrating to the country. For all accustomed entrepreneurs, start-ups, freelancers and there are new ones - Investors in cryptocurrency!
That's exactly in cryptocurrencies! The website of the Central Bank of Portugal says in black and white that the activities of issuing and trading cryptocurrencies are not legal or prohibited in the country. And it also says that cryptocurrency and other virtual funds are not a means of payment in Portugal, therefore:
- acceptance of cryptocurrency at its nominal price is not mandatory
As well as, in simple language, the Central Bank of Portugal
- all those who have deposits in local banks, he will be insured, in case of force majeure-loss, you will be compensated from the reserve fund, as is organised in other countries. But this is only with local residents, as for residents or residents of Portugal, there will be no compensation, as there is no reserve fund for cryptocurrency.
You can also get/withdraw cryptocurrency from your Portuguese bank cards. We DO NOT recommend Millenium BCP and Activobank.
P.S. in 2018, 58 points with the possibility of payment by cryptocurrency were recorded in Portugal, and now there are much more of them, in 2021 there were about 50 of them in one Lisbon.