Portugal | Crypto

The moves highlight growing uncertainty over whether crypto prediction markets are to be treated as finance or gambling. Update Jan. 20, 12:29 p.m. UTC: This article has been updated to include a paragraph on the details surrounding Portugal’s ban on Polymarket. Hungary and Portugal have taken steps to restrict access to the crypto-based prediction market Polymarket, adding to mounting regulatory pressure on the platform across Europe. Hungary’s regulatory authority, Szabályozott Tevékenységek Felügyeleti Hatósága, has temporarily blocked access to Polymarket’s domain and subdomains, citing the “forbidden organization of gambling activities.” According to an official notice released Friday, the restriction will remain in place until the authority completes its review. Read more

Betting on political events is illegal in Portugal, and the regulator gave Polymarket 48 hours to cease operations in the country.

Your guide to moving to Portugal as a crypto digital nomad — and why 0% crypto gains tax and an amazing lifestyle makes it a great option. New York-based pre-seed crypto venture firm manager Catrina Wang missed her flight home from a conference in Portugal back in 2022 and ended up loving the country so much she has since moved there permanently. Forced to find a hotel at the last minute, her stay in the beautiful forested area of Sintra made the Canadian-born Wang rethink living in the United States. I was like Wow, Im coming back and I bought a place at the end of 2023, she says. Wang now lives in beachfront Cascais on the outskirts of Lisbon.  A general partner at Portal Ventures which manages $120 million in assets across two crypto funds, Wang says theres a growing expat community of crypto founders and VCs, many of whom shoot the breeze in a group chat she curates.  There’s been almost a mini exodus of crypto people. A lot of fund managers and successful founders [went] from New York to Lisbon, that’s b...