Binance admits opening office in Lisbon

Lisbon.


#Changpeng Zhao from Binance Ramsey Cardy / Web Summit / Spor

The executive chairman of Binance, a cryptocurrency transaction platform, said this Wednesday at the Web Summit that he spoke with the Mayor of Lisbon, Carlos Moedas, about the possibility of opening an office in the Portuguese capital.

Binance wants to expand the presence it already has in Portugal, said the company’s chief executive, Changpeng Zhao, at the press conference held on Wednesday, November 2, at the Web Summit in Lisbon. And he added that, although he still does not have a clear idea of ​​the new Portuguese tax regime, he prefers one based on the taxation of capital gains than on taxation by transaction, describing it as destroying the market.

“We are studying increasing our presence here,” said Zhao, executive chairman of the crypto-assets brokerage platform, indicating that he has already discussed with the mayor of the capital, Carlos Moedas, the possibility of an office in Lisbon, but without revealing details. .

Asked about the new tax regime for crypto-assets (proposed in the State Budget proposal for 2023), putting an end to a tax loophole that inadvertently turned Portugal into a “cryptoparadise”, Changpeng said he still did not have “a clear answer on how it will be ” after asking “several people” locally, but that “the way the tax is implemented will have implications”.

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