Major Portuguese banks have started closing or refusing to open accounts for cryptocurrency platforms such as exchanges, according to media reports. The move threatens to tarnish the country’s image as one of Europe’s most crypto-friendly destinations, a haven for bitcoin enthusiasts. Portuguese Crypto Firms Hit by Bank Account Closures Portugal, a leading European crypto hub, is risking the loss of its attractiveness for crypto businesses and talent working in the industry as some of its largest banks are now closing accounts of companies operating with digital currencies. Last week, the nation’s biggest listed bank, Banco Comercial Portugues, and another major institution, Banco Santander, shut down all the accounts of Lisbon-based Criptoloja, Bloomberg reported, quoting the exchange’s co-founder and CEO Pedro Borges. The development follows the decision of two smaller banks to close the platform’s accounts. No official explanation was provided in either of these cases, the cryp...
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