Portugal now has two permitted cryptocurrency exchanges. The nation’s central financial institution, the Banco de Portugal, has licensed Thoughts the Coin and Criptoloja.
- In Portugal, the central financial institution is liable for registering entities that intend to behave as digital asset service suppliers (VASPs). The financial institution should additionally be sure that they’re in compliance with the authorized and regulatory provisions on the prevention of cash laundering and terrorist financing (AML/CFT).
- Thoughts the Coin helps bitcoin, litecoin, and monero. “Purchase bitcoin or different cryptocurrencies at our terminals or P2P on-line,” the corporate defined.
- Criptoloja, situated within the coronary heart of Lisbon, claims to be “the primary firm, 100% Portuguese, to offer the service for the acquisition and sale of bitcoin and different cryptocurrencies.”
- The central financial institution clarified:
Banco de Portugal’s supervision relating to digital belongings service suppliers, as decided by Legislation No 83/2017 of 18 August 2017, is proscribed to AML/CFT functions, and doesn’t prolong to different areas of a prudential, market conduct or every other nature.
- Entities that should be registered are these offering trade companies, with or with out involving fiat currencies.
- As well as, entities offering crypto switch companies and “safekeeping and/or administration of digital belongings or devices that allow the management, possession, storage or switch of such belongings, together with personal encrypted keys,” should additionally register with the central financial institution.
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