From today onwards, the European cryptoactive market will have the same regulation for all European Union countries. Only platforms that comply with the new rules can serve as intermediaries for the purchase and sale of cryptocurrencies. The deadline was today, but Portugal has not yet decided who will be the national supervisor.
From today onwards, the European cryptoactive market will be regulated uniformly in all European Union countries. Only platforms that comply with the new rules will be able to act as intermediaries for the purchase and sale of cryptocurrencies.
The deadline for implementing the regulation ended today, but Portugal has not yet decided which authority will be responsible for supervision, whether the Bank of Portugal, the Securities Market Commission (CMVM) or both.
In December, the value of bitcoin reachedand, since January 1st, the cryptocurrency has appreciated more than 130%. Given this, interest in cryptocurrencies has grown, but scams and bad investment decisions have also increased, often due to a lack of supervision.
To address these problems, the European Union introduced a regulation that came into force this Monday, with the aim of creating clear rules for platforms and offering more security to investors.
Although the European regulation is already in force, in Portugal companies still cannot comply with the requirements because they do not know which entity will be responsible for supervision. To date, 16 entities have expressed interest in operating in the country.
