Portugal has updated its cryptocurrency tax policy, introducing new regulations for individuals and businesses in the country. The changes to the Personal Income Tax Code, effective January 1, 2023, define a “crypto asset” and cover capital gains, staking, mining, salary paid in crypto tokens, and the issuance of tokens. Capital gains from the sale of crypto assets held for less than 365 days are taxed at 28%. Profits from the sale of crypto assets held for 365 days or more are excluded from taxation. Portugal has also introduced guidelines for individuals who wish to open a professional activity in cryptocurrency.