• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Portuguese Bank Restricts Transfers to Crypto Platforms, Citing ECB Guidelines

user avatar

by Giorgi Kostiuk

6 months ago


Portugal's Banco de Investimentos Globais has begun blocking customer transfers to cryptocurrency platforms, citing European Central Bank guidelines and anti-money laundering standards.

Restrictions from Banco de Investimentos Globais

Banco de Investimentos Globais (BiG) in Portugal, managing approximately €7 billion in assets, has begun blocking customer transfers to cryptocurrency platforms. The bank has justified this decision citing the European Central Bank's guidelines and anti-money laundering regulations.

Diverse European Bank Approaches to Crypto

The situation with BiG highlights the differing approaches of European banks towards cryptocurrencies. While BiG takes a restrictive stance, other Portuguese banks like Caixa Geral de Depósitos continue to process crypto-related transfers normally. This underscores the fragmented approach to cryptocurrencies across Europe and indicates a lack of unified bank policies.

Criticism of Crypto Restrictions

Critics argue that such restrictions may push users towards alternative financial systems. Restrictions on crypto interactions could have unwelcome effects, driving users to seek other financial solutions.

The actions of Banco de Investimentos Globais reveal the complexity of cryptocurrency regulation in Europe and the variance in bank policies, creating a conflicting situation for users.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Bullish, the Crypto Exchange Backed by Peter Thiel, Prepares for IPO

chest

Bullish has filed for IPO, seeking to enter the public market and compete with major players.

user avatarGiorgi Kostiuk

USDC Use on Stellar and Its Impact on XLM Value

chest

Statistics show a rise in USDC transactions on Stellar, indicating growing utility that fuels speculation on XLM prices.

user avatarGiorgi Kostiuk

Litecoin Records New Open Interest at $761 Million. Is LTC Heading to $120?

chest

Litecoin has reached a new record open interest of $761 million, and 66.3% of addresses are in profit, raising hopes for a price increase to $120.

user avatarGiorgi Kostiuk

World Liberty Announces WLFI Token Launch Valued at $16 Billion

chest

WLFI token by World Liberty plans to debut with a $16 billion valuation, with significant backing from DT Marks DEFI LLC.

user avatarGiorgi Kostiuk

Impact of GENIUS Act: Trump Establishes Federal Stablecoin Guidelines

chest

President Trump has signed the GENIUS Act, establishing federal regulations for stablecoins and impacting the U.S. crypto landscape.

user avatarGiorgi Kostiuk

New Opportunities in the Meme Cryptocurrency Market: Troller Cat Gaining Popularity

chest

Exploring the rise of Troller Cat amid shifts in meme cryptocurrencies and the current status of Shiba Inu and Pepe.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.