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Portugal as a bitcoiner paradise? This analyst says that this country is dangerous for crypto investors!

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Ben
Ben
I am Ben Stock, a highly experienced news writer with several years of experience in the industry. I currently work for The News Dept as an author, where I specialize in market-related stories. My passion and expertise lies in providing readers with accurate and up-to-date information on the latest financial developments from around the world. I have been recognized for my clear writing style and ability to explain complex topics in simple terms that even those new to financial markets can understand.My research skills are unparalleled when it comes to uncovering data points and trends concerning stocks, bonds, currencies and other assets that could affect global markets.

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While governments are becoming more cautious about the regulation of cryptocurrencies, Portugal is relatively isolated and considered a haven for cryptocurrencies. bitcoin in Europe.

“You don’t need to do anything else because your system is already good”noticed Didi Taihuttu, a well-known crypto enthusiast who moved his family from the Netherlands to Portugal. ” It’s a utopia for bitcoins”, he continued.

The finance ministry told AFP it was assessing the issue and wanted a consistent European framework, but there was a growing need for swift action in the country.

Mariana Mortagua, a far-left MP, called for immediate regulation, saying Portugal has become a tax haven for cryptocurrency investors.

Portugal has long attracted investors by offering tax benefits and special visas to international investors and digital nomads.

If Portugal is crypto-friendly, it is thanks to the legal vacuum!

Despite Portugal’s relaxed tax status, a London-based tax professional said he does not encourage his clients to invest their money there, according to the Livemint site.

“It is not the government’s long-term goal to recruit companies from the region; it is a legal void”did he declare.

Also read Bitcoin How to maximize your profits when reselling

This analyst, who wishes to remain anonymous, thinks the City (of London) will be more crypto-friendly in ten years.

Source: The Blog
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