One of Portugal’s largest banks, Banco de Investimentos Globais (BiG), has reportedly suspended fiat transfers to crypto platforms. José Maria Macedo, co-founder of Delphi Labs, revealed the policy shift and criticized it on X (formerly Twitter). In the email, BiG informed customers that transfers to accounts associated with Payward Ireland Ltd, the operator of Kraken, would be blocked. The bank cited obligations under anti-money laundering (AML) and counter-terrorism financing (CTF) regulations as the basis for the action. While BiG’s restriction signals a tightening of cryptocurrency regulations, other Portuguese banks have not followed suit.
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