Banco de Investimentos Globais (BiG), a major Portuguese bank, has stopped fiat transfers to cryptocurrency platforms, highlighting Portugal’s shifting stance towards crypto activities. This decision appears independent, as no other banks have announced similar restrictions yet.
The move aligns with European Central Bank and Portuguese regulations, including MiCA. The bank is adhering to anti-money laundering and counter-terrorism financing rules. BiG’s action contrasts with other Portuguese banks that still allow crypto transfers.
Portugal has been tightening regulations, introducing a 28% tax on short-term crypto gains. BiG's decision echoes wider EU trends, although crypto acceptance varies. In contrast, other EU countries, like France and Germany, are embracing crypto services under MiCA.
Switzerland supports tokenized assets over CBDCs, showcasing diverse approaches within Europe. BiG stands out by limiting crypto transactions despite broader European exploration in digital assets.
