How does Portugal regulate the use of cryptocurrencies?

3 answers

• Dec 15, 2021 · 3 years ago
  In Portugal, the use of cryptocurrencies is regulated by the Portuguese Tax and Customs Authority (AT). Cryptocurrency transactions are subject to taxation, and individuals and businesses are required to report their cryptocurrency holdings and transactions for tax purposes. The AT considers cryptocurrencies as assets, and they are subject to capital gains tax when sold or exchanged for fiat currency. It is important for cryptocurrency users in Portugal to keep accurate records of their transactions to comply with tax regulations.
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• Dec 15, 2021 · 3 years ago
  Portugal has taken a progressive approach to regulating cryptocurrencies. The country has implemented anti-money laundering (AML) and know your customer (KYC) regulations to prevent illicit activities and ensure the transparency of cryptocurrency transactions. Cryptocurrency exchanges and wallet providers are required to register with the Portuguese authorities and comply with these regulations. This helps to protect users and maintain the integrity of the financial system.
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• Dec 15, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, operates in Portugal and complies with all relevant regulations set by the Portuguese authorities. As a licensed and regulated exchange, BYDFi ensures the security and legality of cryptocurrency trading for its users. The exchange follows strict AML and KYC procedures to prevent fraud and money laundering. BYDFi also provides educational resources to help users understand and comply with the regulations in place in Portugal.
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