Portuguese Banks Are Closing Accounts of Crypto Exchanges

Portuguese commercial banks have started to close accounts owned by crypto exchanges arguing that investments in digital assets are associated with high risks.

According to Bloomberg, the Central Bank of Portugal has not yet reacted to the information received.

However, representatives of the media and business do not exclude the regulator itself could unofficially allow local banks to suspend servicing accounts of cryptocurrency platforms.

Crypto exchange CriptoLoja has confirmed the closure of its bank accounts. According to the media, at least four more platforms have lost access to their bank accounts.

The largest banks in the country, including BCP (Banco Comercial Portugues), Santander Bank, Caixa Geral de Depósitos, BiG and Abanca are closing accounts related to cryptocurrency exchanges.