CoinVoice has recently learned that one of Portugal's largest banks, Investimentos Globais (BiG), has begun blocking fiat transfers to crypto platforms, according to a notice shared by José Maria Macedo, co-founder of Delphi Labs. The notice states that this move is to comply with guidelines issued by the European Central Bank (ECB), the European Banking Authority (EBA), and the Bank of Portugal regarding the provision of digital asset risks. Additionally, this decision is made in light of the need to ensure compliance with the country's anti-money laundering and counter-terrorism financing laws.
BiG reported that assets under management reached nearly 7 billion euros in 2023, equivalent to about 7.2 billion dollars.
It is worth noting that this situation is currently an isolated case. A user commented on Macedo's publication that it is still possible to make fiat transfers to crypto platforms using Portugal's largest bank, Caixa Geral de Depósitos.
Macedo criticized BiG's actions, stating: "Cryptocurrency is inevitable, banks have been eliminated, and these abuses of power will only drive more people to transfer their wealth onto the blockchain." [Original link]
