Cryptocurrencies have been gaining prominence in the interna-tional financial plan, being an option for investors seeking high return and protection for their assets. These “currencies” have not yet been subject to specific regulation in Portugal, and the tax framework of the income derived therefrom is still uncertain.

The Portuguese Tax Authorities have not changed their position on the tax treatment of income from cryptocurrencies within Personal Income Tax. However, in the absence of a specific taxa-tion rule, and given the fact that no such provision was foreseen in the Portuguese State Budget Law for 2021, as well as any express tax exclusion, some uncertainty remains regarding the applicable tax framework.