Following directives from European regulatory bodies, Banco of Investimentos Globais (BiG), a major Portuguese bank, has decided to prohibit crypto platforms from processing fiat currency transactions. The bank has approximately 7 billion euros in assets under management. This move underscores the ongoing regulatory scrutiny of cryptocurrency platforms in Europe. The European Central Bank (ECB), the European Banking Authority (EBA), and the Bank of Portugal have all expressed concerns about the risks associated with cryptocurrencies, citing money laundering, terrorist financing, and market volatility. The ban from BiG is a significant development, as it could make it more difficult for crypto platforms to operate in Portugal. It also serves as a reminder that the regulatory landscape for cryptocurrencies is constantly evolving, and businesses in this space need to be prepared to adapt.