TechFlow news, on January 8, according to a notification shared by José Maria Macedo, co-founder of Delphi Labs, Investimentos Globais (BiG), one of Portugal's largest banks, has begun blocking fiat transfers to cryptocurrency platforms. The notification stated that this move is intended to comply with guidelines issued by the European Central Bank (ECB), the European Banking Authority (EBA), and Banco de Portugal regarding risks associated with digital assets. Additionally, the decision stems from the need to ensure compliance with the country's anti-money laundering and counter-terrorism financing laws.
It is worth noting that this situation is currently an isolated case. One user commented on Macedo's post, stating that fiat transfers to crypto platforms can still proceed normally using Caixa Geral de Depósitos, Portugal's largest bank.
Macedo criticized BiG's action, saying: "Cryptocurrencies are inevitable, banks are obsolete, and such abuses of power will only drive more people to move their wealth on-chain."
