Central Bank of Portugal Issues First Licenses to Two Crypto Exchanges
Portugal’s central bank, Banco de Portugal, has granted licenses to Portuguese two crypto exchanges, Criptoloja and Mind the Coin, which now are permitted to run businesses as virtual assets service providers.
Currently, the two exchanges are the only two with the licenses included on a list the bank issued on its website. Under Portuguese jurisdiction, the license enables them to carry out exchange services between virtual assets and fiat currencies, as well as between different virtual assets. Besides, it covers them for transfer services, safekeeping and administration for those assets.
The Banco de Portugal is the Portuguese competent authority responsible for registering entities intending to act as virtual assets service providers and verifying compliance with the legal and regulatory provisions governing the prevention of money laundering and terrorist financing (AML/CFT). Its supervision regarding virtual assets service providers, as determined by Law No 83/2017 of 18 August 2017, is limited to AML/CFT purposes, and does not extend to other areas of a prudential, market conduct or any other nature.
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