The country’s regulatory possibilities are still on the table, notwithstanding a failed attempt at tax regulation.

According to the Portuguese economic monthly ECO, the Portuguese parliament, the Assembleia da Repblica, has rejected two separate tax bills to regulate Bitcoin and other cryptocurrencies.

The opposition party offered both laws, although the dominant party has yet to introduce any legislation. Despite this, the government continues to focus on cryptocurrency taxation.

Fernando Medina, the Minister of Finance, has indicated his support for crypto tax regulation measures and stated that the government would begin work on a new regulatory framework.

While the minister did not set a timeline for the regulation’s adoption, he seemed to be adamant about its implementation soon. While reasonable regulation is usually good, many people are concerned that the government will take a hard line. However, because the government intends to develop its regulations, it is too soon to say which path it will choose.

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