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. In 2023 banks in Peru (like BBVA) didn't provide crypto exchange directly, but did it through subsidiaries in other jurisdictions. New AML regulations can help them provide such services within the country.
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.
So, for several years Peru has done several attempts to regulate crypto, which look incomplete. However, situation a bit changed in 2024 with two new legal initiatives. First of all AML decree implemented in 2023 became real power only in 2024, after UIF-Peru has published (8) its detailed requirement for VASPs with SBS Resolution No. 02648-2024. Based on this resolution all VASPs should follow AML regulations (PLAFT) and have compliance officers. Also the resolution details other UIF requirements for VASPs and reporting procedures. This made crypto regulation landscape for business more transparent.
Another important legal act concerned with crypto regulation implemented in 2024 is Resolution No. 4920-2024-SUNARP-TR (9) of local Registry Court (Tribunal Registral). According to local media (10) this resolution allows deposit cryptocurrency into the company's balance sheet as immoveable asset. So Peru still doesn't have a crypto bill, but it has decrees and bylaws, which allow crypto exchange and guarantee legal status of cryptocurrency.
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 (11) Peru has relatively high tax rates, which is unsuitable for local crypto businesses. Corporate tax is high enough at 29%. Basic PIT and CGT for individuals have progressive scales from 5% to 30%.
1) Crime Index by Country 2023 Mid-Year
2) List of countries by intentional homicide rate
3) List of countries by firearm-related death rate
4) CMS EXPERT GUIDE TO CRYPTO REGULATION IN PERU. Article
7) Peru crypto bill (text in Spanish). PDF-file
8) EY. Norma Plaft
9) TRIBUNAL REGISTRAL RESOLUCIÓN No. 4920-2024-SUNARP-TR (NSIR-T)
10) Gestion Bitcoin as a Contribution to Social Capital: A Step Towards Legal Modernization in Peru
Last update: January 2024
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