{"id":432028,"date":"2022-04-15T08:49:54","date_gmt":"2022-04-15T05:49:54","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/portuguese-regulator-grants-first-crypto-license-to-a-bank\/"},"modified":"2022-04-15T08:49:54","modified_gmt":"2022-04-15T05:49:54","slug":"portuguese-regulator-grants-first-crypto-license-to-a-bank","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/portuguese-regulator-grants-first-crypto-license-to-a-bank\/","title":{"rendered":"# Portuguese regulator grants first crypto license to a bank"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a412a4385c14\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a412a4385c14\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/portuguese-regulator-grants-first-crypto-license-to-a-bank\/#%E2%80%9D_Portuguese_regulator_grants_first_crypto_license_to_a_bank_%E2%80%9C\" >&#8221; Portuguese regulator grants first crypto license to a bank  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Portuguese_regulator_grants_first_crypto_license_to_a_bank_%E2%80%9C\"><\/span>&#8221; Portuguese regulator grants first crypto license to a bank  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNDZkZjUyN2UtYTkwNC00ODExLWEzYjctZWI3ZWFjNmYxOGIzLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Portuguese based bank Bison Bank has received permission from Portugal\u2019s Central Bank (Banco de Portugal) to operate as a \u201cvirtual asset service provider \u201d(VASP), making the first bank in the country to be given the green light by the regulator.<\/p>\n<p>On Thursday, Banco de Portugal updated its <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bportugal.pt\/en\/page\/registration-virtual-assets-service-providers-0\">list<\/a> of virtual asset service providers adding \u201cBison Digital Assets\u201d as the country&#8217;s\u2019 fifth licensed crypto exchange. The company is newly created to operate under Bison Bank, which is fully held by a Chinese private capital firm based in Hong-Kong, and will position its crypto services to high net worth customers according to local <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/eco.sapo.pt\/2022\/04\/14\/bison-bank-anuncia-primeiro-criptobanco-em-portugal-apos-autorizacao-do-regulador\/\">media<\/a>.<\/p>\n<p>In April 2021, laws were established regulating cryptocurrency exchanges to a licensing regime operated by the central bank. La, later that year in June, licenses were granted to the exchanges Mind The Coin and Criptoloja, the first two VASPs permitted to operate in the country.<\/p>\n<p>In March 2021, the regulator granted the first \u201call categories\u201d VASP license to Utrust, allowing the exchange to offer crypto to crypto swaps, transfers to wallet addresses, and custody and storage of private keys on top of providing a fiat on-ramp. Bison Bank has also been granted an all categories license.<\/p>\n<p>Portugal has long been thought of as a crypto friendly country and a crypto tax haven. There are no capital gains or personal income taxes on cryptocurrency unless it\u2019s an individual&#8217;s sole income, as Portugal considers cryptocurrency a form of payment or currency, not an asset.<\/p>\n<p>In April 2020 the country established plans to create Technological Free Zones (ZLTs), areas in which businesses can test products and services, with the country <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/stip.oecd.org\/stip\/interactive-dashboards\/policy-initiatives\/2021%2Fdata%2FpolicyInitiatives%2F26720\">outlining<\/a> that it was looking at testing blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> as part of its digital transformation plan.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Portugal slowly becoming a \u2018haven\u2019 for European Bitcoiners<\/em><\/strong><\/p>\n<p>In October 2021, the Portuguese government announced it was engaging public and private sector businesses along with experts to establish a working group to develop a National Blockchain Strategy. The group has been studying how the country could <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ly the technology, along with clarifying regulatory conditions.<\/p>\n<p>The Portuguese government <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/portugaldigital.gov.pt\/en\/accelerating-digital-transition-in-portugal\/get-to-know-the-digital-transition-strategies\/national-blockchain-strategy\/\">expects<\/a> a draft of the strategy will be released at the end of this month, with a final version published in June 2022.<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/portuguese-regulator-grants-first-crypto-license-to-a-bank\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Portuguese regulator grants first crypto license to a bank &#8220; Portuguese based bank Bison Bank has received permission from Portugal\u2019s Central Bank (Banco de Portugal) to operate as a \u201cvirtual asset service provider \u201d(VASP), making the first bank in the country to be given the green light by the regulator. On Thursday, Banco de&#8230;<\/p>\n","protected":false},"author":1,"featured_media":432029,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNDZkZjUyN2UtYTkwNC00ODExLWEzYjctZWI3ZWFjNmYxOGIzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74858,75022,74860,75917,75993,55229,70934],"class_list":["post-432028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-regulation","tag-central-bank","tag-cryptocurrency-exchange","tag-exchanges","tag-portugal","tag-law","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/432028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=432028"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/432028\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/432029"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=432028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=432028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=432028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}