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Run: 13a31a30... | Peru - Retail Trading Status
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Retail cryptocurrency trading is legal in Peru and formally regulated for anti-money laundering (AML) purposes. While there is no broad prudential licensing regime for exchanges, Virtual Asset Service Providers (VASPs) are legally defined as 'obligated subjects' and must register with the Financial Intelligence Unit (UIF-Peru) under the Superintendence of Banking, Insurance and AFP (SBS). The regulatory framework, solidified by a 2023 Supreme Decree and a 2024 SBS Resolution, mandates strict KYC/AML compliance, although the SBS explicitly disclaims supervision of the assets' financial risks or consumer protection aspects.
In Peru, retail cryptocurrency trading is permitted but operates within an 'Allowed-UnRegulated' environment as of early 2025, lacking a specific, comprehensive regulatory framework. While Virtual Asset Service Providers (VASPs) are subject to Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) regulations under Supreme Decree No. 006-2023-JUS and SBS Resolution No. 02648-2024, these rules do not constitute a licensing regime or prudential supervision. The primary regulators—the Central Reserve Bank of Peru (BCRP), the Superintendency of Banking, Insurance, and Private Pension Fund Administrators (SBS), and the Superintendency of the Securities Market (SMV)—have issued warnings about risks and clarified they do not supervise crypto assets beyond AML compliance. A proposed 'Framework Law for the Commercialization of Cryptoassets' (Bill No. 1042-2021-CR) remains unenacted, leaving the market without specific operational oversight, consumer protection, or formal licensing for exchanges.
Key Pillars
UIF-Peru (Unidad de Inteligencia Financiera): Primary AML/CFT supervisor for crypto assets.
SBS (Superintendencia de Banca, Seguros y AFP): Issues regulations governing the AML obligations of VASPs.
Mandatory Registration: VASPs must register with the UIF-Peru to operate legally.
SPLAFT System: Implementation of a System for the Prevention of Money Laundering and Terrorism Financing is required.
Travel Rule: Obligation to share originator/beneficiary data for transfers (implementation deferred to August 2026).
- Primary regulators: Central Reserve Bank of Peru (BCRP), the Superintendency of Banking, Insurance, and Private Pension Fund Administrators (SBS), and the Superintendency of the Securities Market (SMV).
- AML/CFT supervision: The Financial Intelligence Unit (UIF-Peru) is the primary AML/CFT supervisor for Virtual Asset Service Providers (VASPs).
- Core compliance requirements: VASPs must implement a System for the Prevention of Money Laundering and Terrorism Financing (SPLAFT), including customer due diligence (KYC), risk management, appointing a compliance officer, and reporting suspicious transactions to the UIF-Peru.
- Registration: VASPs are required to register with the UIF-Peru for AML/CFT purposes only; this does not constitute a prudential license or comprehensive authorization to operate.
- Licensing: No specific licensing or registration requirements for crypto exchanges or VASPs beyond AML/CFT regulations.
- Travel Rule: The requirement to transmit originator and beneficiary information for virtual asset transfers is legally adopted but its enforcement is deferred until August 2026.
Landmark Laws
SBS Resolution No. 02648-2024 (Resolución SBS N° 02648-2024) - Enacted: 2024-08-01
- Establishes specific AML/CFT norms for VASPs (PSAVs), requiring them to appoint a compliance officer, implement a prevention system (SPLAFT), and register with the UIF. It sets a deadline for compliance and defers the 'Travel Rule' implementation to August 2026.
- Source
Supreme Decree No. 006-2023-JUS (Decreto Supremo N° 006-2023-JUS) - Enacted: 2023-07-27
- Formally incorporates Virtual Asset Service Providers (PSAVs) as 'obligated subjects' required to report to the UIF-Peru, defining the scope of regulated activities including exchange, transfer, and custody of virtual assets.
- Source
Bill No. 1042/2021-CR (Pending) (Proyecto de Ley N° 1042/2021-CR)
- A proposed 'Framework Law for the Commercialization of Cryptoassets' that aims to establish a broader registry (RUPIC) and consumer protection rules. It remains in committee and has not been enacted.
- Source
- Supreme Decree No. 006-2023-JUS (enacted 2023-07-27): Designated Virtual Asset Service Providers (VASPs) as entities obligated to report to the Financial Intelligence Unit (UIF-Peru) and implement Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) prevention systems.
- SBS Resolution No. 02648-2024 (enacted 2024-08-01): Establishes specific AML/CFT requirements for VASPs, including KYC, risk management, compliance officer appointments, reporting suspicious transactions, and registration with the UIF. It sets a deadline for compliance and defers the 'Travel Rule' implementation to August 2026.
- 'Framework Law for the Commercialization of Cryptoassets' (Bill No. 1042-2021-CR): A proposed law aiming to establish a more formal regulatory structure for crypto assets, potentially including registration requirements for VASPs supervised by the SBS. As of early 2025, this bill has not been enacted.
Considerations
Limited Supervision: The SBS and SMV (Securities Market Superintendence) have clarified they do not prudentially supervise crypto exchanges beyond AML compliance; consumer protection is limited.
Taxation Uncertainty: While no specific crypto tax law exists, gains are generally treated as capital gains (2nd Category Income, ~5%) for individuals, or business income (3rd Category, ~29.5%) for habitual traders.
Banking Access: Peruvian banks are risk-averse; while no official ban exists, crypto businesses often face challenges opening or maintaining bank accounts.
Travel Rule Delay: The requirement to transmit sender/receiver information for crypto transfers is legally adopted but its enforcement is delayed until August 2026 to allow technical adaptation.
- Cryptoassets are not recognized as legal tender in Peru.
- Profits from cryptocurrency trading are considered taxable income by SUNAT, generally as capital gains (Second Category Income, ~5%) for individuals or business income (Third Category, ~29.5%) for habitual traders, but specific tax guidance is lacking.
- Key Peruvian financial authorities have issued warnings about the inherent risks associated with crypto assets, such as high volatility, lack of state backing, potential for fraud, and insufficient consumer protection.
- The SBS and SMV do not prudentially supervise crypto exchanges beyond AML compliance, leaving consumer protection limited.
- Peruvian banks are often risk-averse towards crypto businesses, creating challenges for banking access despite no official prohibition.
Notes
The 'Allowed-Regulated' status is assigned based on the mandatory AML registration regime (UIF-Peru). However, users should note that this does not imply the same level of safety or consumer protection as a banking license. The 'Travel Rule' compliance is legally required but technically deferred until August 2026.
- The Peruvian legislation does not expressly prohibit the acquisition of or transactions with cryptoassets.
- The legal vacuum allows the use of cryptocurrencies in the Peruvian market by individuals as long as these do not contravene public order or existing mandatory regulations.
- The FATF 'Travel Rule' regarding originator and beneficiary information for virtual asset transfers is being implemented, but its enforcement is deferred until August 2026.
- As of early 2025, the proposed 'Framework Law for the Commercialization of Cryptoassets' (Bill No. 1042-2021-CR) has not been enacted into law.
- The mandatory AML registration for VASPs does not constitute a comprehensive regulatory framework and does not provide the same level of consumer protection or prudential supervision as a banking license.
Remaining Uncertainties
- Is the registry of VASPs publicly accessible for consumer verification?
- Will SUNAT issue a specific directive clarifying the 'habitual' vs. 'occasional' trader distinction for tax purposes?
- Will Bill 1042/2021-CR be revived or replaced by a new comprehensive framework?
- Is the registry of VASPs publicly accessible for consumer verification?
- Will SUNAT issue a specific directive clarifying the 'habitual' vs. 'occasional' trader distinction for tax purposes?
- Will Bill 1042/2021-CR be revived or replaced by a new comprehensive framework?
Source Evidence
Source Evidence
"Aprobar la Norma para la prevención del lavado de activos y del financiamiento del terrorismo aplicable a los Proveedores de Servicios de Activos..."
"Incorpórese como sujetos obligados a informar a la UIF-Perú... a los Proveedores de Servicios de Activos Virtuales (PSAV)."
"La norma regula los componentes del sistema de prevención de LA/FT que deben implementar los PSAV... tales como la debida diligencia... y registro de..."
"Supreme Decree No. 006-2023-JUS incorporates cryptoassets exchange... as new Virtual Asset Service Providers... obliged to report to the Financial..."
"Crypto exchanges and wallet providers in Peru are now compelled to adhere to AML/KYC laws thanks to Decree No. 006-2023-JUS."
"Aprobar la Norma para la prevención del lavado de activos y del financiamiento del terrorismo aplicable a los Proveedores de Servicios de Activos..."
"Incorpórese como sujetos obligados a informar a la UIF-Perú... a los Proveedores de Servicios de Activos Virtuales (PSAV)."
"La norma regula los componentes del sistema de prevención de LA/FT que deben implementar los PSAV... tales como la debida diligencia... y registro de..."
"Si bien esta norma regula a los PSAV... 'no regula la tecnología que subyace a los activos virtuales o a las actividades u operaciones de los PSAV'."
"No existe una regulación específica en el Perú que ampare la oferta y/o promoción de criptomonedas... las empresas que realizan tales ofertas y/o..."
"Con 71 votos a favor... el Pleno de Congreso aprobó una cuestión previa, para el retorno a la Comisión de Economía... del dictamen recaído en el..."
"Supreme Decree No. 006-2023-JUS incorporates cryptoassets exchange... as new Virtual Asset Service Providers... obliged to report to the Financial..."
"Crypto exchanges and wallet providers in Peru are now compelled to adhere to AML/KYC laws thanks to Decree No. 006-2023-JUS."
Web Sources
Web Sources
3 sources
https://www.sbs.gob.pe/noticia/detallenoticia/idnoticia/3754
https://www.sbs.gob.pe/boletin/detalleboletin/idbulletin/2282
https://prcp.com.pe/wp-content/uploads/2023/07/SE-INCORPORA-A-LOS-PROVEEDORES-DE-SERVICIOS-DE-ACTIVOS-VIRTUALES-COMO-SUJETOS-OBLIGADOS-A-INFORMAR-A-LA-UIF-PERU.pdf
3 sources
https://www.sbs.gob.pe/noticia/detallenoticia/idnoticia/3754
https://www.sbs.gob.pe/boletin/detalleboletin/idbulletin/2282
https://prcp.com.pe/wp-content/uploads/2023/07/SE-INCORPORA-A-LOS-PROVEEDORES-DE-SERVICIOS-DE-ACTIVOS-VIRTUALES-COMO-SUJETOS-OBLIGADOS-A-INFORMAR-A-LA-UIF-PERU.pdf
Full Analysis Report
Full Analysis Report
The regulatory status of cryptocurrency in Peru has transitioned from 'Allowed-Unregulated' to 'Allowed-Regulated' (specifically for AML) following decisive legislative actions in 2023 and 2024. The primary turning point was the issuance of Supreme Decree No. 006-2023-JUS in July 2023, which amended the country's AML framework to explicitly include 'Virtual Asset Service Providers' (PSAVs) as obligated subjects. This decree aligned Peru with FATF recommendations, legally defining activities such as the exchange of virtual assets for fiat currency, crypto-to-crypto exchange, and custody services as regulated activities subject to oversight by the Financial Intelligence Unit (UIF-Peru).
In August 2024, the Superintendence of Banking, Insurance and AFP (SBS) operationalized this decree by publishing Resolution SBS N° 02648-2024. This resolution imposes concrete operational requirements on VASPs, including the mandatory appointment of a compliance officer, the implementation of a 'System for the Prevention of Money Laundering and Terrorism Financing' (SPLAFT), and the requirement to maintain a registry of operations. Crucially, it mandates that all VASPs operating in Peru must register with the UIF-Peru. While this creates a formal 'license to operate' in the context of AML, it is distinct from a full prudential banking license; the SBS has reiterated that it does not supervise the financial health or business conduct of these entities beyond illicit finance prevention.
Despite these advances, the broader commercial framework remains partially undefined. A comprehensive 'Crypto Law' (Bill No. 1042/2021-CR), proposed to create a specific registry for commercialization and consumer protection, remains stalled in Congress. Consequently, while VASPs are regulated for AML, they lack the legal recognition of financial institutions, leading to friction with the traditional banking sector. Banks often refuse services to crypto companies due to perceived risk, despite the lack of an official prohibition.
Taxation remains another area of practical nuance rather than explicit regulation. The tax authority, SUNAT, has not issued a specific crypto tax law, but tax experts and officials indicate that general income tax rules apply. For individuals, trading profits are typically classified as 'Second Category' income (capital gains) subject to a 5% effective rate, whereas frequent or corporate trading falls under 'Third Category' (business income) with significantly higher rates. The lack of explicit guidance creates a 'gray' operational reality for taxpayers, even though the activity itself is fully legal and the AML reporting channels are now firmly established.
Report on the Current Status of Retail Cryptocurrency Trading in Peru
Date: 2025-06-26 (Corrected)
Topic: Retail_Trading_Status
Description: Assess whether individual citizens and residents in the country are legally permitted to buy, sell, and hold cryptocurrencies. Detail the regulatory environment surrounding this activity.
1. Identified Status
Allowed-UnRegulated
2. Detailed Narrative Explanation
Retail cryptocurrency trading, including buying, selling, and holding, is legally permitted in Peru. However, the activity operates in a largely unregulated environment as of early 2025. There is no specific, comprehensive legal framework dedicated to cryptocurrencies that establishes licensing, prudential supervision, or consumer protection rules for the market.
Recent regulatory developments have focused exclusively on anti-money laundering and counter-terrorist financing (AML/CFT). Supreme Decree No. 006-2023-JUS, published in July 2023, incorporated Virtual Asset Service Providers (VASPs) as entities obligated to report to the Financial Intelligence Unit (UIF-Peru). This was operationalized by SBS Resolution No. 02648-2024 in August 2024, which mandates that VASPs implement a prevention system (SPLAFT), conduct customer due diligence (KYC), appoint a compliance officer, and report suspicious transactions. VASPs must also register with the UIF-Peru. Crucially, the SBS has stated that this norm "does not regulate the technology that underlies virtual assets or the activities or operations of the VASPs" beyond AML/CFT. The FATF 'Travel Rule' is adopted but its enforcement is deferred until August 2026.
These AML/CFT rules do not equate to a full regulatory framework. Peruvian regulators—the BCRP, SBS, and SMV—have consistently warned that cryptocurrencies are not legal tender, are highly volatile, lack state backing, and are not under their prudential supervision. The SMV has explicitly noted that there is no specific regulation that protects offers or promotions of cryptocurrencies and that such entities are not under its supervision.
A legislative effort to create a broader 'Framework Law for the Commercialization of Cryptoassets' (Bill No. 1042-2021-CR) has been discussed but remains unenacted. In March 2025, the bill was returned to committee for further analysis, indicating no imminent comprehensive regulation.
Taxation applies under general rules: profits are considered taxable income by SUNAT, typically as capital gains for individuals. Banking access for crypto businesses remains challenging due to risk aversion, though not officially prohibited.
In summary, while retail trading is allowed and VASPs have AML/CFT obligations, the absence of a licensing regime, operational oversight, and crypto-specific consumer protection rules means the market is not formally regulated. The correct classification is therefore 'Allowed-UnRegulated'.
3. Specific, Relevant Text Excerpts
- SBS Resolution on AML for VASPs: "Aprobar la Norma para la prevención del lavado de activos y del financiamiento del terrorismo aplicable a los Proveedores de Servicios de Activos Virtuales (PSAV), bajo supervisión de la UIF-Perú." (Source: Resolución SBS N° 02648-2024, 2024-08-01).
- SBS on Scope of Regulation: "Si bien esta norma regula a los PSAV cubiertos por la Recomendación 15 del GAFI, 'no regula la tecnología que subyace a los activos virtuales o a las actividades u operaciones de los PSAV'." (Source: Infobae, August 6, 2024, summarizing the SBS resolution).
- Supreme Decree Obligating VASPs: "Incorpórese como sujetos obligados a informar a la UIF-Perú... a los Proveedores de Servicios de Activos Virtuales (PSAV)." (Source: Decreto Supremo N° 006-2023-JUS, 2023-07-27).
- SMV Warning on Lack of Supervision: "No existe una regulación específica en el Perú que ampare la oferta y/o promoción de criptomonedas o monedas virtuales... las empresas que realizan tales ofertas y/o promociones no están bajo supervisión." (Source: Superintendencia del Mercado de Valores, March 6, 2021).
- Status of Framework Law: "Con 71 votos a favor... el Pleno de Congreso aprobó una cuestión previa, para el retorno a la Comisión de Economía... del dictamen recaído en el Proyecto de Ley 1042/2021-CR." (Source: Congreso de la República del Perú, March 19, 2025).
- BCRP Stance: "El Banco Central de Reserva del Perú (BCRP) declaró... que las criptomonedas 'no constituyen moneda de curso legal y no cumplen plenamente las funciones de dinero'." (Source: iupana, January 28, 2022).
4. Direct, Accessible URL Links
* Resolución SBS N° 02648-2024: https://busquedas.elperuano.pe/dispositivo/NL/2311684-1
* Decreto Supremo N° 006-2023-JUS: https://busquedas.elperuano.pe/normaslegales/decreto-supremo-que-amplia-la-lista-de-los-sujetos-obligados-decreto-supremo-n-006-2023-jus-2199897-4/
* SBS Press Release on New AML Regulations: https://www.sbs.gob.pe/noticia/detallenoticia/idnoticia/2899
* Infobae Summary of SBS Resolution: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGekR-x6GYssfVuQLgMpbgFbjeke5KLhO0SxNwBZNaZ6OWZ3v99nDGY94teOszP67HFmkeuAcJNpP0AAoEO-GwSHADOH_TlVRCYDE2sv2I6XynMDF6ac6RJeh1wIgPAlTlPsIIK9uvCgW8RcNhpQ010BLqJw8MnUNA2g5HGa8I9DwXU6EOjAyNhJBReiEPCzLewxRYTWlbxTozS4FPwPFLbt1dHjlKwqRA9Iwyo9Cm1WZQ5JCDBIs8PfvFlMw773En425yl
* SMV Warning (2021): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGOkemSCk4jHHnzI3p-BNvRBu2bdCLmc-uxXCx5nMKB_OfPb9cnc6mwHl5H23l5_k8uCxBoNnlR5LiG15JegR-WAYs1xz46R0vVDmQnts16_DMWmPgvtN2ylJ1dPN1R5iYhQ3UompSCxN68PonkfLTSr0VqiJNqldizFE5sp6VVWoNUzLBAeumMPbSxAmsvoREVkmR7npOuczKEckuEWjaTkIwB8KuMOovVBrzwPqWD1jx5ynUg9WmIheJMsSr1RUaoxhrzNzXs_yiKfmRNsD7AcLkzBKwl9aw5QyO-t283A5PYraNOJntRGZ7ufZHZcAUCydJADsazUwLmJw==
* Congreso de la República on Bill 1042/2021-CR: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQE5bt69u6uOvpFnwnmUcFJNtFVQcNjLsrexUtDHPyiHwfkx2xrdZoEBQDSEbNCQHFKB905PXPurl7koxF760VBIc1F1wv8lIEbhuHhbARyUTaoVcdPwl0kIhp8_HUy_NrkeB9y1VXtK8F08Fh2NHuxEXfHZ1x5S6mZSfg3yxxg3AIT7miqyjn-ZUWtgGsvclL7OgmSvK3z1dx7c3ZtCYAdU6sHc_FH0jKVIzYeu9zVom2d2nA01-dp7PQmU57tEjohv6pa6O9hYt80=
* iupana on BCRP Stance: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEjrA20SFdRDYh5J1HbvYJlIFQ2G7Mari7qRQfF62FXXp4XMc1ah6OIW9MR8JtJU0FrcLLf8IiXRTtM7NMD2gHyLzHU45ZWuR_rGagCKfh-OwNeHCsn9HetsWXiKQaCu0CAAlPTma_l_zN0M1g7b6jmb-GR5Xqt9Whes-bucSckzaNBjozVwRC3XO5apEWahs-1jK_MChceYGhygSs1tHXzNtBPAjQ6