The new decree was an important step for the Peruvian government to regulate the cryptocurrency ecosystem and prevent the use of digital assets for criminal purposes. As part of the decree, both individuals and legal entities dealing with cryptocurrencies in Peru must provide information about their transactions to the Financial Intelligence Agency (UIF). The agency will receive, analyze and transmit information about money laundering and terrorist financing activities using cryptocurrencies.
The decree took effect immediately after the signing by the President. The UIF will soon release additional guidance and guidance for crypto industry participants and digital asset service providers.
However, the Blockchain and Distributed Registry Association of Peru (ABPE) has criticized the decree. Representatives of the organization emphasized that the country’s authorities did not discuss new regulatory rules with industry participants. ABPE urged Congress to engage in a dialogue with representatives of the cryptocurrency industry in order to cover all aspects of the industry within the framework of regulation.
The Central Bank of Peru is considering issuing a digital state currency, and in April, the regulator presented a report on the possibilities of digital salt.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
