Major Portuguese Banks Close Crypto Accounts

Portuguese Bank

Some of the leading banks in Portugal, including Banco Comercial Portugues and Banco Santander, were said to have shut down all of CriptoLoja’s accounts last week. The company is the first cryptocurrency exchange that received a license to operate in the country.

Portugal’s authorities have previously displayed a predominantly crypto-friendly stance, rejecting two tax proposals that could have been applied to investors profiting from digital assets.

Several cryptocurrency platforms in Portugal have to cope with bank-related issues. A few days ago, the nation’s banking giants – Banco Comercial Portugues and Banco Santander, closed all of CriptoLoja’s accounts, while two smaller banks also initiated the same. None of the companies explained why they decided to go anti-crypto.

Apart from CriptoLoja, Mind the Coin also faced the same problems. Earlier in 2022, the authorities halted the latter, and since then, it has been unable to open client accounts.

Ricardo Filipe – Chief Product Officer of Luso Digital Assets – said the regulators closed some of his firm’s accounts, too.

Anti-money laundering policies and preventing the employment of digital currencies in criminal actions could be a reason for the banks’ move. In an emailed statement, Banco Comercial explained it takes measures every time it detects “suspicious transactions.”

Pedro Borges CEO and Co-Founder of CriptoLoja stated that his exchange now has to rely on “using accounts outside Portugal to run” its operations.

“All the compliance and reporting procedures have been followed,” he said.

In the past several months, Portugal emerged as a center of the cryptocurrency industry. The domestic authorities treat digital currencies the same way as other currencies, not just assets. It is also one of the few countries on the Old Continent where cryptocurrency transactions are not a subject of taxation.

This Post Has 2 Comments

  1. Suivre Téléphone

    Suivre le téléphone portable – Application de suivi cachée qui enregistre l’emplacement, les SMS, l’audio des appels, WhatsApp, Facebook, photo, caméra, activité Internet. Idéal pour le contrôle parental et la surveillance des employés. Suivre le Téléphone Gratuitement – Logiciel de Surveillance en Ligne.

  2. Suivre le téléphone

    urveillez votre téléphone de n’importe où et voyez ce qui se passe sur le téléphone cible. Vous serez en mesure de surveiller et de stocker des journaux d’appels, des messages, des activités sociales, des images, des vidéos, WhatsApp et plus. Surveillance en temps réel des téléphones, aucune connaissance technique n’est requise, aucune racine n’est requise.

Leave a Reply

Important Link

Fund Your Deriv Account
Withdraw Funds to Your Local Currency
VIP Trading Signals
Learn To Trade

Contact Us

Follow Us


Forex, Crypto, Options, and Binary Options have both large potential rewards and large potential risks. Therefore, before investing or trading any of the assets, ensure you are aware of and willing to accept the accompanying risks. Do not trade money you cannot afford to lose.

All Rights Reserved. None of the content of this website can be published elsewhere by any means without the prior consent of the owner(s). Please, check our terms & conditions and privacy policy before continuing to use this website.

This website and its owner(s) are not in any way liable for any incurred loss, whether caused by the information provided on this website or otherwise. The use of this website, including the content and information provided, is the user’s sole liability.