Portuguese banks begin closing crypto accounts, citing risk management issues

Author: Yuvi August 5, 2022

Portuguese Banks Begin Closing Of Crypto Accounts, Cites Risk Management Issues


All exchanges whose accounts have been terminated, including Cryptoloza, Mind the Coin and Luso Digital Assets, are licensed by the Bank of Portugal. Several major banks in Portugal are closing bitcoin exchange accounts due to “risk management” concerns, indicating a reversal in Portugal’s pro-crypto stance. The central bank of Portugal appears to have allowed financial institutions to function.

Several major banks in Portugal recently canceled the accounts of Cryptoloza, the country’s first licensed cryptocurrency exchange. According to Bloomberg, BCP (Banco Commerciale Portugues), Santander Bank, Caixa Geral de Depositos, BIG and Abanca have closed accounts…

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5 August, 2022, 6:30 pm

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