{"id":6680,"date":"2025-01-08T16:47:48","date_gmt":"2025-01-08T16:47:48","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=6680"},"modified":"2025-01-08T16:47:48","modified_gmt":"2025-01-08T16:47:48","slug":"portugals-major-bank-blocks-fiat-payments-to-crypto-platforms","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=6680","title":{"rendered":"Portugal\u2019s Major Bank Blocks Fiat Payments To Crypto Platforms"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">Portugal\u2019s Banco de Investimentos Globais (BiG) <\/span><span style=\"font-weight: 400\">has blocked fiat transfers to crypto platforms.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">BiG has cited ECB guidance about \u201crisks associated to virtual assets.\u201d <\/span><\/p>\n<p><span style=\"font-weight: 400\">The decision has raised concerns among crypto enthusiasts and businesses. With these developments, can Portugal still be considered a crypto haven?\u00a0<\/span><\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/news\/portugal-could-become-home-to-this-bull-runs-biggest-winners-with-new-bitcoin-golden-visa-option\/\" rel=\"bookmark\">Portugal Could Become Home To This Bull Runs Biggest Winners With New Bitcoin Golden Visa Option<\/a><\/strong><\/p>\n<h2>Delphi Labs Co-founder Openly Criticised BiG\u2019s Decision<\/h2>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">One of the largest Portuguese banks BIG is now blocking transfers to crypto exchanges, citing ECB guidance about &#8220;risks associated to virtual assets&#8221;<img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f926.png\" alt=\"\ud83e\udd26\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"><\/p>\n<p>Crypto is inevitable, banks are dead, and these abuses of power will only redpill more ppl into moving their wealth on-chain <a href=\"https:\/\/t.co\/QFTfWCcKdz\">pic.twitter.com\/QFTfWCcKdz<\/a><\/p>\n<p>\u2014 Jos\u00e9 Maria Macedo (@ZeMariaMacedo) <a href=\"https:\/\/twitter.com\/ZeMariaMacedo\/status\/1876647406181245143?ref_src=twsrc%5Etfw\">January 7, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">Delphi Labs co-founder Jos\u00e9 Maria Macedo took to X to address the issue. He said, \u201cOne of the largest Portuguese banks BIG is now blocking transfers to crypto exchanges, citing ECB guidance about risks associated to virtual assets.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cCrypto is inevitable, banks are dead, and these abuses of power will only \u201credpill\u201d more people into moving their wealth on-chain,\u201d he added.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Thankfully, BiG\u2019s position is not yet widely adopted. Notably, other Portuguese banks such as Caixa Geral de Dep\u00f3sitos continue to permit fiat transactions to cryptocurrency platforms.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, Portugal is not the first country where banks have restricted access to cryptocurrency platforms.<\/span><\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/news\/portugal-bitcoin-lamassu-first-atm\/\" rel=\"bookmark\">Portugal embraces Bitcoin: from production of Lamassu machines to installation of first ATM<\/a><\/strong><\/p>\n<h2><strong>Portugal\u2019s Crypto-Friendly Reputation At Risk?<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">For years, Portugal has been regarded as one of Europe\u2019s most crypto-friendly nations.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The country gained global attention for its progressive stance on crypto tax. It offered tax exemptions on individual crypto gains until 2023.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Even after introducing new tax regulations, Portugal remained an attractive destination for crypto traders and businesses due to its relatively lenient policies and supportive ecosystem.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This latest move by one of the country\u2019s major financial institutions could signal a shift in that perception.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">By halting fiat payments to cryptocurrency platforms, the bank has effectively created a bottleneck for users trying to bridge traditional finance with digital assets.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This raises questions about whether other banks in Portugal will follow suit and what this means for the future of crypto adoption in the country.<\/span><\/p>\n<p class=\"entry-title\"><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/news\/top-15-crypto-tax-free-countries-in-2024-how-can-you-optimise-taxes-on-crypto-assets-in-2025\/\" rel=\"bookmark\">Top 15 Crypto Tax-Free Countries In 2024: How Can You Optimise Taxes On Crypto Assets In 2025?<\/a><\/strong><\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/portugals-major-bank-blocks-fiat-payments-to-crypto-platforms\/\">Portugal\u2019s Major Bank Blocks Fiat Payments To Crypto Platforms<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Portugal\u2019s Banco de Investimentos Globais (BiG) has blocked fiat transfers to crypto platforms.\u00a0 BiG has cited ECB guidance about \u201crisks associated to virtual assets.\u201d The decision has raised concerns among crypto enthusiasts and businesses. With these developments, can Portugal still be considered a crypto haven?\u00a0 Explore: Portugal Could Become Home To This Bull Runs Biggest [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-6680","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/6680","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6680"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/6680\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}