Portuguese banks shutting crypto accounts citing risk management concerns
2022.08.04 19:50
Portuguese banks shutting crypto accounts citing risk management concerns
Several large banks in Portugal have reportedly begun closing the accounts of cryptocurrency exchanges due to “risk management” concerns, suggesting a shift in Portugal’s pro-crypto position. The country’s central bank appears to have given the financial institutions the green light to take action.
Several of Portugal’s top banks recently closed the accounts of CriptoLoja, the country’s first cryptocurrency exchange to obtain a license to operate. According to a Bloomberg report, at least four domestic cryptocurrency exchanges have seen their accounts shut by BCP (Banco Comercial Portugues), Santander (BME:SAN) Bank, Caixa Geral de Depósitos, BiG and Abanca.
