How Portugal became Europe’s accidental ‘bitcoin heaven’

 
As governments slowly shackle the crypto industry with regulations and obligations, Portugal is increasingly isolated in Europe — a place with few rules that investors describe as a crypto paradise.

“You don’t need to do anything else because you already have a perfect system, with zero percent tax on bitcoin,” said Didi Taihuttu, a prominent crypto enthusiast who shifted his family to Portugal from the Netherlands.

“For bitcoiners, it’s heaven,” he added.

Financial authorities across the globe are grappling with fundamental questions about cryptocurrencies.

Firstly, are they currencies or assets? If they are assets, how do you categorise and tax them?

Right now, Portugal is one of the last countries in Europe to regard them as currencies from a tax point of view, meaning profits from trading are not taxed. Ler mais