Portugal's leading financial institution, Banco de Investimentos Globais (BiG), has decided to stop fiat transfers to cryptocurrency platforms. This action was undertaken in response to guidance from the European Central Bank (ECB) concerning potential risks associated with virtual assets.
The bank informed its customers of this policy shift through an email, emphasizing compliance with ECB directives. This move is a reaction to the mounting regulatory scrutiny facing the cryptocurrency markets across Europe.
This development signals a growing trend among European banks to align with stringent regulations concerning digital currencies, with the aim to mitigate perceived financial risks.
