In today's era of fierce development of digital currencies, the move of the Portuguese Commercial Bank has attracted widespread attention. It is reported that the Portuguese Commercial Bank has taken action to prevent Bitcoin exchanges from accessing its bank accounts. This move has triggered thinking and discussion in the financial field. This article will explore the impact of the Portuguese Commercial Bank's move and the challenges to Bitcoin and the financial revolution.

In today's digital age, cryptocurrencies such as Bitcoin are gaining more and more attention. However, the decision of the Portuguese Commercial Bank seems to have hindered the normal operation of Bitcoin exchanges to a certain extent. This move is not only eye-catching, but also triggers people's thinking about power and control in the financial system.

The move of the Portuguese Commercial Bank seems to reflect the resistance of traditional financial institutions to emerging digital currencies. This resistance may stem from concerns about the potential risks of digital currencies, or it may be due to the maintenance of the monopoly of traditional finance. However, whether this resistance is in line with the trend of financial development is worth in-depth thinking.

As a decentralized digital currency, Bitcoin is considered to have the potential to subvert the traditional financial system. However, the move of the Portuguese Commercial Bank seems to cast a shadow on this subversion. In this case, people can't help but ask, will innovation and revolution in the financial field be stifled by the resistance of traditional institutions?

It is worth noting that the inability of Bitcoin exchanges to access bank accounts may have a significant impact on their business. Bank accounts are the core of financial transactions. If they cannot be connected to them, Bitcoin exchanges will face various difficulties and challenges. This also highlights the control and restrictions of traditional institutions in the financial system on emerging forces.

Innovation in the financial field is always on the way, and the actions of the Portuguese Commercial Bank seem to have hindered the development of such innovation to some extent. In today's booming digital currency, whether traditional financial institutions should be more open to new technologies and new ideas and become promoters of financial change rather than obstacles is a question worth pondering.

In general, the Portuguese Commercial Bank's move to prevent Bitcoin exchanges from accessing bank accounts has triggered thinking about financial revolution and innovation. Changes in the financial field are always on the way, and the resistance of traditional institutions may only be a temporary obstacle. In the future, how the financial system will respond to new challenges and how to integrate tradition and innovation will determine the development direction of the financial industry. I hope that the financial field can continue to move forward in the transformation and realize more possibilities and opportunities.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Commercial banks around the world, from Israel to Australia, are attempting to block bank accounts in an attempt to prevent people from entering the world of cryptocurrency. Now, Portugal’s largest consumer association has slammed local banks for doing the same.

Santander Bank

DECO, the Portuguese consumer protection association, has issued a warning to Santander Totta
S.A., Portugal’s fourth-largest bank. This comes after Portuguese customers of the bank reported that it was blocking transfers from the bank to accounts associated with bitcoin exchanges. The association has confirmed that Santander Totta
S.A. is acting in this way despite there being no known legal basis to support its actions.

DECO was founded in 1974 as an independent non-profit charitable association and is also Portugal’s largest consumer association.

Bank of Portugal denies issuing guidance

After a member of the DECO association tried to transfer money from a Santander Totta bank account to a Coinbase bank account in Estonia and was rejected, he asked Santander Totta why the transaction was rejected. After initially dodging the question, the bank eventually replied that the transaction was not allowed because it was related to unregulated virtual currencies.

The consumer association has determined that this action has no legal basis in Portugal or the European Union.

The Portuguese central bank said that the country has not yet established a regulatory framework, and its regulatory activities do not include actions actually related to this specific business, which essentially means that the central bank has not issued any regulatory guidance. In addition, at least one other Portuguese commercial bank told the DECO Association that it has not yet imposed restrictions on accounts of Bitcoin exchanges.