Portugal cryptocurrency

France 24 is not responsible for the content of external websites. President Nicolas Maduro on Tuesday decreed that airlines flying from Caracas must pay for fuel in Venezuela's ailing "petro" cryptocurrency, which he ordered to be more widely used in the cash-strapped South American country. Maduro used his annual speech to the ruling Constituent Assembly to try to revive the controversial petro that has been banned by the United States and labeled a "scam" by some risk rating bodies. Maduro also decreed the mandatory use of the petro to pay for state document services including passports.



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WATCH RELATED VIDEO: Expert Explains Portugal Residency Programs and Crypto Taxes

Rodrigo Formigal comments on the rise in demand for cryptocurrency business in Portugal


At the end of June, however, Hodlife investors discovered their money had disappeared and realised they had been conned. Their inquiries led them to wallets linked to a year-old Lithuanian man who had spent long stretches of time in Spain since By analysing the different internet connections used in the scam, police established that the alleged conman had been operating from one of the most exclusive areas of the Costa del Sol.

Analysis of the different internet connections used by the gang also revealed that it alternated between villas and hotels, using the internet there to access different cryptocurrency sites and to transfer the stolen funds to their own wallets. Eventually, officers realised that the alleged scammer had been using false documents for years and was in fact Latvian and not Lithuanian.

Officers also discovered that the US had issued a search, arrest and extradition warrant for the suspect in in connection with alleged fraud. A spokesman for the Guardia Civil said investigations were ongoing, adding it was unclear what charges the man could face and in which jurisdictions.

This article is more than 2 months old. Alleged scammer from Latvia had been living a life of luxury on Spanish coast. The alleged fraudster had been staying in exclusive hotels and villas on the Costa del Sol. Watchdog investigates tube adverts for Floki Inu cryptocurrency. Read more. Reuse this content.



One app, all things money

Did you know that cryptocurrency is tax-free in Portugal? Portugal sets a great example for other European countries with its crypto-friendly status. It encourages foreign entrepreneurs, investors, and digital nomads as it helps them to generate their cryptocurrency earnings without the tax burden. But what makes Portugal one of the most crypto-friendly countries in the world? How did the country transform while most governments still ignore cryptocurrency? Portugal has always been open to innovation.

Safe & Easy. Coinbase makes it easy to exchange Bitcoin, Ethereum, and Litecoin in Portugal.

One of Europe’s biggest suspected cryptocurrency fraudsters arrested in Spain

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy. Lawyer and Tax Expert Tiago Caiado Guerreiro talks about what are the tax obligations for people who work and invest in crypto assets as a profession. The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. All Rights Reserved. Password Passwords are Case Sensitive.


Alleged Costa del Sol cryptocurrency con artist arrested

portugal cryptocurrency

Cryptocurrencies have been gaining prominence in the international financial plan, being an option for investors seeking high return and protection for their assets. The Portuguese Tax Authorities have already clarified their position on the tax treatment of income from cryptocurrencies within Personal Income Tax. However, some doubts persist, as the definitive applicable tax framework to income derived from cryptocurrencies is still to be determined, due to the lack of a specific taxation standard exclusion. This extension, along with o In practice and on simplistic terms, digital tokes are lines of computer code, to which a certain value may be assigned, and which are registered and controlled by an interconnected database system

Recent tax reform and insufficient IRS guidance around the taxation and treatment of cryptocurrencies have caused unnecessary confusion and uncertainty.

Portuguese Tax Authority announces it won’t tax cryptocurrency

CriptoLoja has been operating since July last year. In June , it received Portugal's first official license as a virtual asset service provider. The Brazilian holding company will start its expansion into Europe with an over-the-counter OTC operation. As a second phase, it intends to take the entire MercadoBitcoin. Borges said in the statement that the crypto ecosystem is flourishing in Portugal, but it is still an emerging topic in the country. The Portuguese exchange is one of many acquisitions that 2TM is looking to undertake, not only in Europe, but also in Latin America.


The Portuguese of the new cryptocurrency economy

Portuguese law enforcement agencies are planning a crackdown on social media influencers who are providing cryptocurrency investment advice, according to a report by local media outlet Expresso. The judicial police of the country have taken an interest in the influencers after thousands of Portuguese signed an online petition and are now analyzing the content of the YouTubers, among influencers on other social media platforms for finding illegal activities. Promoting cryptocurrencies is not a crime, especially in a country where digital currencies are not banned. We are trying to understand the case better. The authorities are particularly looking into the indirect crypto scams as many influencers promote fake giveaways. The report further outlined that the police investigated a YouTuber who took money from people with false promises but assured to return the funds after admitting wrongdoings.

Cryptocurrency Regulations: Institutions and Financial Openness. ADBI Working Paper Tokyo: Asian Development Bank Institute.

Confused by all the cryptocurrency terms out there? Delve into our easy to understand glossary of terms. This week, the letter B. Bag : Crypto slang for a large quantity of a specific cryptocurrency.


You need JavaScript for the best experience on Cryptocurrency Jobs. Please enable it in your browser settings. The best new crypto jobs straight to your inbox. By using this website, you agree to our cookie policy. Cryptocurrency Jobs in Portugal Find great jobs at startups in Portugal that use blockchain technology.

Crypto heaven in Portugal is still a relatively new phenomenon, so we tried to explain everything you need to learn about it so far. Cryptocurrency is a decentralized currency.

Besides the exemption of VAT, income made from crypto sales also cannot be taxed. Essentially, what this means is that Portugal is viewing cryptocurrencies as a means of payment - i. As previously clarified in by the PTA , all types of cryptocurrency transactions are exempt from capital gains tax and other taxes from crypto transactions, such as:. For crypto traders who want to avoid taxes, Portugal is the right place. Investors in Portugal who have not been tax residents in the country for the previous 5 years can benefit from the NHR scheme.

The country is asserting itself in the world of digital currencies and is attracting more and more companies and professionals, both national and foreign, to this sector. Five Portuguese people talk about how they live their daily work in the digital world of the internet of the future, based on the blockchain distributed digital recording technology associated with cryptocurrencies. They are about 30 years old, have unlimited vacations and work mostly remotely.


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