Share this article
Portuguese Congress Rejects Two Bills Seeking to Tax Crypto
The proposals were submitted by two leftist parties. The government, which also seeks to apply taxes, hasn’t submitted a proposal so far.
Updated May 11, 2023, 3:35 p.m. Published May 26, 2022, 12:45 a.m.
Portugal's Congress, the Assembleia da República, rejected on Wednesday two bills that sought to tax cryptocurrencies.
- The bills were presented by Livre and Bloco, two left-wing parties with little representation in the Portuguese Congress, local media Sapo reported.
- The ruling Socialist Party, which holds the majority of the legislative assembly seats, has not submitted any taxation bill of its own so far. Portuguese Minister of Finance Fernando Medina announced last week that cryptocurrencies will be subject to taxation in the near future.
- “Many countries already have systems, many countries are building their models in relation to this subject and we will build our own,” he said at the time.
- Portugal has an effective capital gains rate of zero on crypto, compared to the current capital gains tax rate for financial investment, of 28%.
- The new policy proposed by the government would include a capital gains tax, Susana Duarte, an associated partner at Abreu Advogados law firm in Lisbon, told CoinDesk last week.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Iran accepts cryptocurrency as payment for advanced weapons
Prospective customers could purchase weapons such as missiles, tanks and drones using crypto, according to a government website.
What to know:
- Iran's Ministry of Defence Export Center is accepting cryptocurrency payments for advanced weapons systems as a means of bypassing international sanctions that the country faces.
- The offer is among the first known instances of a country accepting cryptocurrency as a means of payment for military equipment, according to the Financial Times.
- The facility for using cryptocurrency to pay for transactions involving sanctioned countries is already well established.
Top Stories
