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Despite the demarche of commercial banks, Portugal remains one of the most attractive countries for crypto startups. 12 companies, including Binance, can get a license from a local regulator.
Portugal is known as one of the most loyal jurisdictions for cryptocurrency startups. Recently, the country’s reputation has been damaged by the demarche of commercial banks – some institutions refused to service the accounts of approved cryptocurrency providers. However, this has not deterred the 12 companies that are now awaiting approval of their licensing applications. Among those who can get the green light from the country’s central bank is Banco de Portugal (BdP), the well-known exchange Binance.
The licenses that allow firms to operate in Portugal are expected to be issued by the end of 2022. It is also possible to postpone the consideration to 2023, but this is if government experts need additional information from companies. The Binance exchange seems to be completely confident in its abilities – Changpeng Zhao’s platform has already posted six vacancies on its Portuguese page.
#crypto #companies #license #Portugal