Portugal proposes 28% capital gains tax on gains from crypto assets held for less than a year

According to Blockworks, the Portuguese Parliament’s new budget proposal proposes to impose a 28% capital gains tax on income from encrypted assets held for less than a year, and income from encrypted assets held for one year or longer will continue to be tax-free. Individuals have long been exempt from paying capital gains tax on cryptocurrency gains. Foresight News previously reported that in May, Portugal’s Finance Minister Fernando Medina told a hearing in the Assembly of the Republic that he planned to tax cryptocurrencies.