Crypto Regulations in Portugal 2025

Portugal used to be a tax haven for crypto users before it established a tax policy on crypto activities. However, Portugal remains one of the crypto-friendly countries, with growing interest in digital assets. Its crypto regulatory landscape has evolved since 2023, when the laws stood closer to the European Union standards. Now, a notable percentage of the Portuguese population owns cryptocurrency due to its legalized framework. 

Crypto Regulations in Portugal

• 1 July, 2026– MiCAR Transitional Period

The Market in Cryptocurrency Asset Regulation (MiCAR) will be continued in Portugal till next year. Portugal’s authorities have not yet made any statements regarding the length of the transitional period. 

• 2018-2025: Beginning of Crypto Regulations

From 2018, Portugal started introducing enhanced versions of crypto regulations in the country to make trading more feasible. Now, the crypto laws in Portugal consist, AML/CFT compliance, tax policies, and digital asset licensing to prevent any illicit activities in the crypto ecosystem. 

Date	Law/ Regulation	Details
2024-2025	MiCA (EU Regulation)	EU regulation for crypto assets, licensing, and consumer protection
March 26, 2024	Worldcoin ban	Temporary ban due to privacy issues
January 24, 2023	Bank of Portugal notice no. 1/2023	AML/ CFT compliance for crypto businesses
January 1, 2023	Law no. 24-D/ 2022	New tax law
April 13, 2021	Bank of Portugal notice no. 3/2021	VASP registration and AML/ CFT compliance
April 21, 2020	Digital Transitional Action Plan	Establishes ‘free zones’ for testing crypto technology
2019	PTA guidance	Tax-free trading of crypto for individuals
2018	EU Directives 2018/843	Integration of AML/CFT for crypto in Portuguese law

What the Portuguese Government is Saying About Crypto

Bank Of Portugal (Banko De Portugal):

• Primary authority regulating crypto and overseeing compliance of crypto asset service providers ( CASP) for anti-money laundering (AML) and counter terrorist financing (CTF) purposes.

• Offers a relaxed regulatory environment while maintaining customer protection with KYC aspects for licensing.

Portuguese Securities Market Commission (Comissão do Mercado de Valores Mobiliários- CMVM)

• Supervising CAPs in Portugal under the MiCAR policy from 2024 onward.

• Crypto assets qualified as securities are obliged to register with the CMVM for operating in Portugal.

Crypto Tax in Portugal

3 categories for crypto transactions:

1. Capital income– Coins held for more than a year remain tax-free, except for certain security tokens, while crypto assets held for less than a year are subject to 28% capital tax.

2. Capital gains income– Income below 200,000 is subject to a tax rate ranging from 14.5% to 53% under category B.

3. Self-employment income– Derived from personal engagement in crypto issuance events like mining, staking, etc., is subject to 28% tax.

• Non-resident– Non-residents are taxed at a flat rate of 25% on any Portuguese-sourced income.

Transaction type	Tax rate (residents)	Notes
Sell crypto (<365 days)	28%	Capital gains tax
Sell crypto (>365 days)	0%	Unless security token/non-EU jurisdiction
Staking/ Lending/ Airdrop income	28%	Passive income
Professional trading/ mining	14.5%-53% (progressive)	Based on total income
No resident (PT sources income)	25%	—

Crypto Adoption Rate in Portugal

Current adoption rate–

• 12% of the Portuguese population owns crypto assets in 2025, depicting a significant growth from the previous year, which was estimated at around 2.6%.

• Around 3.38 million users, ranking as one of the 14 highest cryptocurrency-adopting countries in the world.

• Penetration rate is 33.15% in Portugal, with growing crypto startups and individual interest.

Revenue in the crypto market

• The cryptocurrency market is projected to reach US$219.4 million in 2025.

• Average revenue per user in Portugal is US$64.9, and it is expected to increase with government-favorable crypto regulations.

Portugal’s government crypto holdings

• No public disclosure yet; policies focus on market stability and consumer protection in the crypto sphere.

Conclusion

Despite its new tax policies, Portugal maintains its crypto-friendly reputation with favorable crypto regulations and efficient customer protection policies. To further enhance this robust framework, the Portuguese government supports various cryptos, like  Bitcoin, Ethereum, USDC, Hash, Uniswap, Solana, and Chainlink. While all of these are legalised, Bitcoin and Ethereum are some of the most popular cryptocurrencies in Portugal. If Portugal resolves its remaining grey areas in cryptocurrency, it might become the global crypto leader in the coming days.

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