Portuguese Bank Blocks Crypto Transfers Amid EU Regulations
One of Portugal’s largest banks, Banco de Investimentos Globais (BiG), has blocked fiat transfers directed at cryptocurrency platforms, drawing attention to the country’s changing stance on crypto-related activities.
As of now, this seems to be an independent decision from BiG, and other banks have not made any similar announcements.
Is Portugal’s Crypto Stance Changing?
As MiCA came into effect over a week ago in the EU, the crypto community hoped that regulation would become clearer in the region – for better or worse. Yet, regulatory clarity is still at the heart of this controversial decision from BiG.
BiG cited compliance with directives from the European Central Bank, the European Banking…
