Central Bank Of Portugal Allows Crypto Trading, Mind The Coin And Cryptoloja To Operate

JAKARTA – Portugal's central bank, Banco de Portugal, has allowed crypto trading platforms to operate, namely Mind the Coin and Cryptoloja. Now the country has two official crypto trading companies.

Launching Bitcoin News, digital asset service providers in Portugal must first be registered with the central bank. Banco de Purtugal ensures digital asset trading platforms comply with laws related to preventing money laundering and terrorist financing.

The Mind the Coin platform provides Bitcoin (BTC), Litecoin (LTC), and Monero (XMR) cryptocurrency trading. It is not yet known whether the platform also provides meme crypto money which is currently popular or not.

"Buy bitcoin or other cryptocurrencies (can be done) on our platform or online P2P," the company said.

Lisbon-based Criptoloja, on the other hand, describes itself as a “100 percent Portuguese” crypto trading company. Cryptoloja provides cryptocurrency trading services.

Portugal's central bank will oversee the crypto trading platform. They also require crypto trading companies to report for inspection first.

Not only crypto trading platforms, they also require crypto transfer service providers to register.

“Storage and/or administration of assets or virtual instruments that enable control, ownership, storage or transfer of such assets, including private encrypted keys” are also required to register with Banco de Portugal.