"Capital gains relating to cryptoactive assets held for a period of less than one year are subject to a rate of 28% (without prejudice to the option of aggregation), with capital gains relating to cryptoactive assets held for more than 365 days being exempt from taxation."

Until now, unless they originated from professional or business activities, gains from cryptocurrencies were not taxed in Portugal.
With the approval of the State Budget last November 25, capital gains will be taxed at a rate of 28% if the holder has not held them for at least 365 days. In this way, the Government focuses on speculative profits. For those who focus on the long term, profits will be exempt from taxation.
These measures will come into force on 1 January 2023 and are aimed at strengthening anti-abuse regulations and penalizing polluting activities, as is the case with the mining of these assets.
It is also important to mention that it is planned to tax free cryptocurrency transfers at a rate of 10% and a 4% tax on commissions charged by brokers.