Cryptocurrencies
Digital-Asset Haven Portugal Ponders ‘Several Models’ for Crypto Taxation
- The move may lead to an overhaul of its tax-free crypto regime
- ‘The timetable will be as soon as possible’: Fernando Medina
Lisbon, Portugal.
Photographer: Jose Sarmento Matos/BloombergThis article is for subscribers only.
Portugal is embarking on a major change of course as it considers levying taxes on cryptocurrencies, signaling a policy shift for one of Europe’s most crypto-friendly destinations.
The country’s lack of legislation, combined with its affordable living costs and mild temperatures has attracted a growing number of digital nomads and cryptocurrency companies in recent years. At the moment, Portugal does not tax crypto gains, unless it stems from professional or business activities.