Portuguese bank BiG has stopped all fiat money transfers to cryptocurrency platforms. This decision comes as Portugal faces more regulatory oversight on cryptocurrencies. The bank holds about €7 billion in assets. Meanwhile, other major banks in Portugal continue to allow such transfers.
Portugal recently changed its position on cryptocurrencies, moving from a tax-free environment to imposing a 28% tax on crypto gains. This regulatory shift marks a significant change in the country's approach to cryptos.
