Two crypto exchanges, Criptoloja and Mind the Coin have been licensed by the Central Bank of Portugal.
The seal of approval by the central bank automatically means both virtual service providers can now operate within the country.
It’s the first time crypto exchanges will be allowed to operate in Portugal since the restrictions on the industry took effect earlier this year.
According to CoinDesk, Criptoloja has been trying to get the needed certification to operate since September last year.
It took all of nine months to happen, but they finally got the license to operate and Criptoloja’s CEO, Pedro Borges, is thrilled by the development.
“It was a long way. Being the first regulated exchange in Portugal means a lot,” Borges told CoinDesk.
He explained that the exchange company will begin operating “in the next couple of weeks,”