Portugal to start taxing crypto

The nation that was considered a paradise for crypto investors with no taxes on cryptocurrencies and amazing weather has now made a U-turn.

The State Budget for 2023 made by the socialist party (that rules at the moment with absolute majority in the parliament), has now put a 28% tax on crypto assets traded in less than an year. Furthermore income taxes and property taxes will now be applicable to crypto in the country, leaving thousands of investors disheartened.