Portugal’s Banco de Investimentos Globais (BiG) has blocked fiat transfers to crypto platforms, citing compliance with EU and national regulations. This contrasts with other Portuguese banks still allowing such transfers. Portugal’s shift from a crypto tax haven to stricter oversight includes a 28% tax on short-term gains. While BiG’s move stands out, other EU countries like the Czech Republic, France, and Germany are embracing crypto, with MiCA providing regulatory clarity. BiG’s decision may push more users toward DeFi.