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Portugal's BiG Bank has blocked fiat transfers to cryptocurrency platforms, citing compliance with EU regulations, amid a broader regulatory shift that includes a new 28% capital gains tax on short-term crypto holdings. This decision contrasts with other banks in the country that continue to facilitate such transfers, highlighting a divergence in approaches to digital assets. Critics argue that this restrictive stance may drive users towards decentralized finance alternatives, reflecting Portugal's evolving relationship with cryptocurrencies.
Banco de Investimentos Globais (BiG), one of Portugal's largest banks, has halted fiat transfers to cryptocurrency platforms, citing compliance with European regulatory directives. This decision comes amid a broader shift in Portugal's crypto landscape, including a new 28% capital gains tax on short-term holdings, contrasting with other banks that remain crypto-friendly. As the EU's Markets in Crypto-Assets Regulation (MiCA) aims for unified digital asset operations, BiG's restrictive stance highlights a divergence in attitudes towards crypto across Europe.
Ethena Labs has launched USDtb, a stablecoin backed by BlackRock’s BUIDL Fund, designed to maintain a 1:1 value ratio similar to USDC and USDT. With 90% of its backing from BUIDL, USDtb aims to enhance the resilience of Ethena’s existing USDe stablecoin and provide a lower-risk yield-bearing option.The stablecoin is expected to thrive in volatile markets, allowing Ethena to mitigate risks associated with negative funding rates while potentially exceeding $100 billion in total value locked. Major custodians and liquidity providers are supporting USDtb, which has passed rigorous security audits.
Ethena Labs launched its USDtb stablecoin on December 16, achieving $65.4 million in total value locked on its first day. Backed 90% by BlackRock’s USD Institutional Digital Liquidity Fund, USDtb aims to provide stability in volatile markets and has the potential to scale to $100 billion. The stablecoin's smart contracts passed three audits, and it is designed to enhance liquidity and risk management for Ethena's flagship product, USDe.
José Maria Macedo Júnior
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
portugal bank halts crypto transfers amid new eu regulations
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10:00 09.01.2025
Portuguese Bank Blocks Crypto Transfers Amid Regulatory Changes and New Taxes
Czech Koruna
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Deutsche Bank RV Global PP
BPCE4.2%24OCT29
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00:45 09.01.2025
Ethena Labs launches USDtb stablecoin backed by BlackRock's BUIDL Fund
03:51 18.12.2024
ethena launches usd stablecoin with 65 million in first day total value locked
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