Analysis

July 26, 2022

Portugal is thinking of taxing crypto. The crypto millionaires aren’t happy

Portugal’s finance ministry is reportedly preparing a new draft law that would put an end to the crypto tax haven, to be presented with the next budget in October


Pedro C. Garcia

5 min read

Violetta Chekan

Ole, a Scandinavian VC, moved to the Portuguese coast in 2020 as the pandemic broke out. Like many expats, he was lured by the warm climate, serene political environment and reasonably low prices. But, as good as the weather can get in the south, there was another incentive at play for this crypto investor: taxes. Or rather, the lack of them.

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Image of Rui Serapicos, president of the Portuguese Blockchain Alliance
Rui Serapicos, president of the Portuguese Blockchain Alliance
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Violetta Chekan, founder of the Vis Caeli startup studio
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Pedro C. Garcia

Pedro C. Garcia is a Portuguese reporter based in Lisbon covering Portuguese/Spanish tech and culture. Follow him on X (https://twitter.com/pmccgarcia) and LinkedIn (www.linkedin.com/in/pedrocgarcia)

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