Central Bank Of Portugal Approves Licenses For Crypto Exchange

In another win for the adoption of blockchain technology and cryptocurrencies, the Central Bank of Portugal (Banco de Portugal) has officially announced that they will begin approving licenses for crypto exchanges to operate within the country. Two have already been granted.

This is the first time that crypto asset exchanges are able to operate within the country since a new law on blockchain technology was passed earlier this year.

Criptoloja and Mind the Central Band of Portugal’s official announcement, with these licenses, Criptoloja and Mind the Factors Stack In Favor Of Bullish Bitcoin Fractal, Despite Latest Plunge

Countries Around The World Warming Up To Cryptocurrencies?

Portugal is just one of many countries in Europe allowing cryptocurrencies to be traded within its borders. Just last month Malta Financial Services Authority (MSFA) issued Xcoins, a major cryptocurrency exchange, a Class 3 Virtual Financial Asset License. This is the second license that the MFSA has given out with the first being Crypto.com.

Not only are countries in Europe quickly moving to adopt both blockchain and crypto technology, but El Salvador was also recently the first country to adopt bitcoin as legal tender. Many other South American countries have been quick to also jump on the growing crypto revolution. See our related reading below for a run down of the recent adoption movement in South America.

Related Reading | South American Countries Are Interested In Adopting Bitcoin: Who Will Be Next?

Only time will tell what countries will wake up and join to the blockchain revolution next. But as more an more countries jump on the blockchain train, others will be sure to follow suit or quickly get left behind. Blockchain technology is still very young so as more applications that the blockchain has become available, more countries will allow exchanges to operate within their borders so as to let their citizens reap the benefits of decentralized networks.

Featured Photo by Pedro Santos on Unsplash

Source: https://www.newsbtc.com/crypto/central-bank-of-portugal-crypto-exchange/