Major Portuguese bank blocks fiat transfers to crypto platforms
Banco of Investimentos Globais (BiG), one of Portugal’s largest banks, started blocking fiat transfers to crypto platforms, according to a notification shared by Delphi Labs co-founder José Maria Macedo.
The notification cited compliance with guidelines published by the European Central Bank (ECB), the European Banking Authority (EBA), and the Bank of Portugal about risks associated with offering digital assets.
Additionally, the notification states that the decision was driven by a need to ensure compliance with the country’s laws against money laundering and terrorism financing.
BiG reported nearly €7 billion in assets under management in 2023, equivalent to roughly $7.2 billion.
Notably, for now, blocking fiat transfers to crypto…
