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.
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.
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%.
Understanding NFT licenses with Cryptopenetration
Overview of current legal status of crypto payments in UAE
Review of republicans' approach to crypto regulation in the US and their next steps.