On Wednesday, Portugal’s Congress, Assembleia da República, rejected two expenses that sought to tax cryptocurrencies.

Introduced through Livre and Bloco, The expenses have been presented through two left-wing events with little illustration within the Portuguese Congress, native media Sapo reported.

There is not any invoice submission up to now through the ruling Socialist Birthday celebration, which holds nearly all of the legislative meeting after the Portuguese Minister of Finance Fernando Medina introduced remaining week that cryptocurrencies can be matter to taxation within the close to long term.

“Many nations have already got methods, many nations are development their fashions relating to this matter and we will be able to construct our personal,” he stated.

Portugal has an efficient capital features charge of 0 on crypto, compared to the present capital features tax charge for monetary funding, of 28%.

Susana Duarte, an related spouse at Abreu Advogados legislation company in Lisbon, instructed CoinDesk remaining week that the brand new coverage proposed through the federal government would come with a capital features tax.

Then again, a complete of $4.five billion used to be raised for its fourth cryptocurrency fund, bringing its general finances raised for virtual foreign money investments up to now to greater than $7.6 billion stated Undertaking capital large Andreessen Horowitz stated on Wednesday 

A complete of $1.three billion from the fund can be used to put money into seed rounds of startups and $three billion for challenge investments, the corporate stated.

The most recent investment comes after a pointy fall within the worth of cryptocurrencies in fresh weeks, with bitcoin shedding over a 3rd of its worth in simply two months.

In June remaining yr, Andreessen Horowitz exposed a $2.2 billion fund to put money into crypto networks. To take a position throughout startups in numerous sectors, the company raised $nine billion throughout 3 new finances previous this yr.

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