You Crypto assets They are digital representations of values or rights that can be transferred and stored electronically. Although they can be used to make payments, since the value of crypto assets fluctuates frequently, they are mainly used as investment assets.
Recently, the head of CMVM, Gabriel Bernardino, considered it important to have regulation of crypto assets in Portugal and warned against the risks of investing.
Crypto-asset area is not regulated in Portugal
The CMVM chief considered that there should be regulation on crypto assets in Portugal, but that this is currently expected by the European system and that without legislation, what he can do is alert investors to the risks.
The new head of CMVM (who took office last November, replacing Gabriela Figueiredo Dias) stated that the crypto-asset area is an unregulated area in Portugal, as in European terminology and in almost all countries, and currently there is a community (Mica - Markets in Crypto-Assets) and that it will follow this societal system that will appear legislation in Portugal regulating crypto assets as securities.
This regulation is in the final part of the discussion between the Council and the European Parliament, after approval. However, after approval, the implementation process will take some time, so admit it could take a year or more.
In Portugal, the only regulation on this type of digital goods is the responsibility of Banco de Portugal, which is the authorization and supervision of entities that provide services for the exchange, transfer or custody of virtual assets (eg Bitcoin).
Read also...
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
