Lisbon, Oct. 17, 2025 (Lisboa) - The Government argued on Friday in Parliament that the new rules on the supervision of digital asset transactions in Portugal and the fight against money laundering in this sector will contribute to "regulatory stability" in the financial sector.
Parliament today held the first reading debate and vote on three legislative proposals from the government, two to strengthen control over operations and one to ensure immediate transfers in €uros.
The three bills seek to ensure "full compliance with European obligations and regulatory stability in the financial sector," said Secretary of State for the Treasury and Finance João Silva Lopes during the debate on the initiatives.
"The proposals we are debating today represent a decisive step in the regulation of the crypto-asset market in Portugal, strengthening the supervision of this sector and ensuring the protection of consumers and investors," he stressed.
One of the initiatives transposes the European regulation known as "Mica" into national law, defining rules for the authorisation and operation of crypto asset service providers, and defining which authorities are responsible for supervision (the Bank of Portugal and the CMVM).
This law transposes European Regulation 2023/1114, which establishes common rules for issuers of asset-referenced crypto tokens, issuers of electronic money crypto tokens and crypto asset service providers.
A second piece of legislation, linked to this one, implements another European regulation that updates anti-money laundering measures to adapt them to the reality of transfers involving certain crypto assets.
During the debate, the Secretary of State highlighted the fact that service providers will now be treated as financial institutions in terms of their obligation to apply preventive anti-money laundering measures.
"One of the main measures arising from this proposal is the inclusion, in the list of financial entities subject to the duties provided for in Law No. 83 of 18 August 2017, crypto-asset service providers based in Portugal and also crypto-asset service providers based in another member state of the European Union but established in Portugal through a branch or other form of permanent establishment," he stressed.
In response to a question from Social Democrat (PSD) MP Hugo Carneiro, the secretary of state said that the new supervisory rules have a longer transitional period, so that instead of the period ending on 30th of December 2025, it will be extended until June 2026.
Christian Democrat-Monarchist Party (CDS-PP) MP Paulo Núncio stressed that the new rules will require companies to respond "in a timely manner" to requests for clarification from supervisory authorities and will give "full powers" to the Bank of Portugal, the public prosecutor's office and other authorities to control these operations.
For the Livre Party, crypto assets "are an unavoidable reality" (through which citizens invest, save and make payments) and, given the “silent” and "profound" transformation, it is necessary to regulate the sector to ensure greater security, said MP Patrícia Gonçalves.
The Liberal Party (IL) MP Mário Amorim Lopes warned of the need for companies to have predictability, recalling that Portugal is transposing the 2023 regulation and that, two years on, some companies "have sought other jurisdictions".
The Chega Party MP Eduardo Teixeira said it is necessary to ensure that the regulation guarantees three principles: a "fair price" for transactions, "adherence targets" for companies in the sector, and a "focus on micro, small and medium-sized enterprises".
Socialist Party (PS) MP Miguel Cabrita stressed the need to regulate the advertising of "cryptoeconomy" activities on social media.
Communist Party (PCP) MP Alfredo Maia argued that it is necessary to end what he calls the "privileged tax regime" attributed to crypto assets in Portugal, whose capital gains obtained within less than 365 days are taxed at a rate of 28%. To this end, he advocated the mandatory inclusion of these figures with other income in owners' income tax returns.
PCT/AYLS // AYLS
Lusa
