Portugal crypto regulation 2025: MiCA and AML transposition roadmap

Portugal is set to revolutionize its cryptocurrency landscape in 2025 as the government unveiled comprehensive crypto regulation draft legislation on October 20, 2025, implementing EU's Markets in Crypto-Assets (MiCA) framework. This landmark Portugal crypto regulation directly transposes EU Regulation 2023/1114, establishing stringent oversight for digital tokens, Bitcoin services, and blockchain-based financial products.

The new regulatory framework mandates crypto-asset service providers, including cryptocurrency exchanges and DeFi platforms, to comply with enhanced licensing requirements and reporting obligations. While strengthening anti-money laundering (AML) measures, Portugal maintains existing national cryptocurrency laws under Law No. 83 from August 2017, creating a hybrid regulatory environment.

This MiCA transposition significantly impacts cryptocurrency businesses operating in Portugal's growing digital asset market. Companies providing blockchain services, Bitcoin trading, or cryptocurrency custody must urgently assess compliance gaps and licensing requirements. The regulation positions Portugal as a crypto-friendly EU jurisdiction while ensuring investor protection and market stability. Cryptocurrency service providers should immediately evaluate their operations against new definitions and prepare for enhanced regulatory scrutiny in the evolving European digital asset landscape.