Portugal approach to cryptocurrencies (so far) is brilliant.

Greetings from...yeah Portugal.

2023 statements released by the financial authorities have clarified the official stance of cryptocurrency laws (including Portugal’s crypto tax regulations), which go a long way towards cementing Portugal’s place as one of the top countries for cryptocurrency traders and investors.

Simply said, pre-2023, most crypto trading was tax-free due to a loophole in the tax system. Crypto trading profits will be taxed at 28% beginning in 2023.

The interesting part is that, according to the new law ''The tax would only be applicable to crypto owned for less than a year. Gains from crypto held for longer than this period of time (365 days) would still be exempt".

This means that the Government wanna benefit the HOLDERS and tax the TRADERS. This is will incentive investors to not fall in many scams and prioritize DYOR on long term projects.

I would love to hear the community thoughts on this!

Thanks!