Portugal receives the first operating license for cryptocurrency exchange

Portugal has issued its own first crypto exchange license for Criptoloja and Mind the Coin as we can see in our most recent crypto news today.

Portugal’s central bank has licensed two cryptocurrency exchanges for the first time, and in an official announcement, the organization announced that it had authorized Criptoloja and Mind the Coin as service suppliers The Crypto Trading Platforms Act came into effect earlier this year.

Approval came after nine months of negotiations when Criptoloja first registered for endorsement in September 2020, the firm’s CEO Pedro Borges stated:

“It was a long way. To be the first regulated exchange in Portugal means a lot. “

In April, the bank’s board of directors confirmed that the Banco p Portugal had obtained five proper enrollment requests and about 60 unofficial contracts then. When Portugal problems its first license, Criptoloja intends to roll it out in the coming weeks, Borges said, adding that the firm enables customers to open accounts online but not yet for delivery. According to Borges, Criptoloja will attempt to bring together Portuguese individuals who wish to invest in cryptocurrencies and that do not feel secure enough to open accounts in forex.

Borges added that many of the crypto starts in Portugal are one of the new generation of dealers, but the firm will continue to attempt and market the crypto ecosystem among individuals of different profiles.

As previously mentioned, together with the increase of Bitcoin to new ATHs, a better regulatory environment and increased adoption by big companies are a few of the variables which have contributed to BTC becoming a way of payment in the traditional world. Luzboa, the Portuguese electricity trader, has declared that it will need to adapt to these new technologies to be able to accept BTC as a payment system. The company serves around 5,000 national, corporate and institutional clients, around 2,000 of whom cover at the place market price.

The electricity firm has no intention of holding some more tokens or investing more BTC, but based on Luzboa’s President Pedro Morais Leitao, the idea is to attract customers who prefer to use their cryptocurrency and they have them than Means of payment recognizable.

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