The Central Bank of Portugal (Banco de Portugal) has granted a license to two crypto exchanges for the first time.
In an official statement, the entity announced that it recognized Criptoloja and Mind the coin as “Virtual asset service providers”.
As per Criptoloja’s CEO Pedro Borges, the exchange filed for the first license on September 29 in 2020. The approval came after nearly nine months.
Banco de Portugal had received 5 formal registration request and 60 informal contacts.
“It was a long way. Being the first regulated exchange in Portugal means a lot,” said Borges.
Criptoloja plots a launch in the next “couple of weeks,” Borges said, adding that the company allows customers to open accounts online but not yet enabled online trading.
Portugal proves itself as friendly towards bitcoin and other cryptocurrencies by granting a license to crypto exchanges. It is not approaching a ban on them.