Peru is one of the largest countries in Latin America by territory. It has a high level of inflation. That’s why cryptocurrencies have been a hedge here for a long time, despite Peru not having crypto regulation until 2023.
Country overview
#82
PeruCountry stats
Rating Points
173
This indicator describes the overall rating of a given jurisdiction on several parameters according to cryptocurrency operations - market volume, crypto regulation, business climate, taxation framework.
Crypto Penetration
2.5%
Estimated percentage of crypto users out of the country's total population based on public data.
Legal Entities
0
Number of crypto companies registered in the country based on regulator data if available or other types of public data.
Regulation Points
40
An overall assessment of the granularity of crypto regulation in a given country. A high score is also given to countries where cryptocurrency transactions are highly regulated.
Amount of crypto users
842 500
Total amount of crypto users out of the country's total population based on public data.
Taxation points
17
This figure, according to our analysts' calculations, indicates the overall level of tax burden for cryptocurrency transactions in a given country. The higher the indicator, the lower the burden.
Market volume points
116
A rough estimate of this jurisdiction's retail crypto market relative to the rest of the world. The higher the indicator, the higher the market potential.
Status of crypto
Legally allowed
General status of cryptocurrency regulation in this jurisdiction.
Crypto payments
No info
The legal status of cryptocurrency payments for goods and services in a given country based on information from regulators, public data and feedback from our community.
Security Level
High danger
The overall level of security in a given country based on open data.
Crypto Salaries
No info
The legal status of cryptocurrency salaries to employers in a given country based on information from regulators, public data and feedback from our community.
Business Climate
No data
Overall assessment of the friendliness of this country for crypto-business. This indicator takes into account the cost of obtaining a license and the attitude towards crypto entities in the country.
Stablecoin Regulation
No data
This indicator is evaluating the regulation of stablecoins in a given country. Complex regulation means that it is possible to issue steiblcoins and obtain a license for this activity. Basic regulation means that the issuance of stablecoins is possible, but not all legal aspects are defined in the law. Standard regulation means that there is a legal practice of steylcoin circulation in a given country.
Bad Factors
No
This section describes the unfavorable economic factors for crypto-business in a given country. These are countries that are under sanctions or on the FATF grey list and other factors.
Types of licenses
Crypto-to-crypto
This license type allows VASP to provide legal exchange from one cryptocurrency to another.
Crypto-to-fiat
This type of license regulates the exchange from cryptocurrency to fiat.
Wallet/Custody
This country has a legal licensing procedure for companies that store cryptocurrency - - crypto wallet providers and custodians.
Good
Medium
Bad
Peru has a High danger security level according to our rating. Jurisdiction has 32.5 points (from 100) for safety level in Numbeo crime rating (1). The homicide level (2) is 5.7 per 100,000 inhabitants a year. Level of firearm-related death (3) 3.72 per 100,000 inhabitants a year.
We have no information about crypto payments regulation in Peru. Please contact us, if you have this information.
We have no information about crypto salaries regulation in Peru. Please contact us, if you have this information.
According to CMS law (4) Peruvian regulators, the Superintendency of the Securities Market (Superintendencia del Mercado de Valores – “SMV") and the Superintendency of Banking, Insurance and Pension Fund Administrators (Superintendencia de Banca, Seguros y AFP - "SBS") have issued statements indicating that they are not the competent entities to regulate cryptoassets.
The situation has changed in 2023, than the president of Peru Dina Boluarte has issued crypto AML decree (5) in July 2023 requiring cryptocurrency exchanges to comply with AML regulations - all VASPs operating in Peru must be registered with the local Financial Intelligence Unit (UIF).
The decree defines only basic types of crypto businesses, such as crypto exchanges, wallets, custody, and financial services. At the same time, mining is not defined in law. Currently, banks in Peru (like BBVA) do not deal with cryptocurrencies directly but exchange them through subsidiaries in other jurisdictions. New regulations can help them provide such services within the country.
So, for now, the procedure of crypto regulation in Peru has yet to be worked out, and there is still no regulation for crypto payments.
Moreover, the Congress of Peru tried to implement crypto law in 2021 through its Economic Commission, presented (6) project No. 1042-2021-CR, "Ley de Marco de Comercialización de Criptoactivos" (7) at the end of 2021. Unfortunately, this law was not passed.
| Tax name | Index |
| PIT tax Min | 30 |
| PIT tax Max | 30 |
| Corporate tax (CIT) | 29.5 |
| Min Individual CGT (for crypto) | 5 |
| Max Individual CGT (for crypto) | 30 |
| Wealth tax Min | 0 |
| Wealth tax Max | 0 |
Based on PWC taxsummaries (8) Peru has relatively high tax rates, which is unsuitable for local crypto businesses. Corporate tax is high enough at 29%. Basic PIT and CGT have progressive scales from 5% to 30%.