Binance among crypto businesses seeking authorization to operate in Portugal.
The applications are pending decision amid recent reports that some commercial banks are closing accounts of already approved operators.Portugal’s monetary authority is currently evaluating requests submitted by 12 entities that intend to offer Portuguese clients services for virtual assets, Dinheiro Vivo unveiled. The crypto firms need a license from Banco de Portugal to work in the country, still considered one of Europe’s most crypto-friendly jurisdictions.
Among the applicants to enter the Portuguese crypto market is Binance, the world’s largest cryptocurrency exchange by trade volume. The digital currency trading platform has started to recruit talent in the country, having posted six vacancies on its Portuguese page, even though it’s still waiting for a green light from the BdP.
According to an article published by Jornal de Negócios and quoted by Bloomberg, the banks Caixa Geral de Depósitos, BCP, Santander, Abanca, and BiG are shutting down the accounts of four of the five digital asset managers.
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