New Portuguese regulation permits crypto-only realestate deals.
Apartment Sold for Bitcoin in Portugal After New Regulation Allows Property Deals in Crypto
The new owner paid 3 bitcoins for the home, worth around 110,000 euros at the time the purchase took place. The title deed was transferred in Porto’s Póvoa de Varzim district this past Thursday, May 5, the business news portal Idealista unveiled. Buying property directly with cryptocurrency is now possible in Portugal thanks to a new provision recently adopted by the, the body which regulates notary activities together with the Ministry of Justice.
Certain procedures must be followed to conduct such sales, to comply with anti-money laundering rules. The source of the fiat funds — a bank account — with which the digital assets were purchased, has to be indicated and the public address of the crypto wallet presented, before the coins are transferred.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Court Fines Bitmex’s Founders $30 Million for Operating Illegal Crypto Platform – Regulation Bitcoin NewsThe founders of Bitmex have been ordered to pay $30 million “for illegally operating a cryptocurrency derivatives trading platform.'
Read more »
US Treasury Sanctions First Crypto Mixer – Regulation Bitcoin NewsU.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has issued its first-ever sanctions on a crypto mixer. cryptocurrency bitcoin $BTC
Read more »
Senator Elizabeth Warren Demands Answers From Fidelity for Allowing Bitcoin in Retirement Plans – Featured Bitcoin News“Investing in cryptocurrencies is a risky and speculative gamble, and we are concerned that Fidelity would take these risks with millions of Americans’ retirement savings.” crypto bitcoin $BTC
Read more »
New Zealand VC Launches $5 Million Web3 and Crypto-Focused Fund – Finance Bitcoin NewsNawaz Ahmed's work grants GD1 a vital platform to test the fund's 'thesis around the concept of permissionless innovation that web3 is built on.' permissionless
Read more »
Georgia to Unveil New Cryptocurrency Law by This Fall – Regulation Bitcoin NewsAuthorities in Georgia are holding discussions with industry representatives to finalize a bill designed to regulate crypto trading.
Read more »
Africa’s financial analysts doubt if CAR’s Bitcoin adoption deal is legitimateIn response to the Central African Republic’s adoption of Bitcoin as legal tender, several financial specialists in Africa have raised... Continue reading
Read more »