The Presidency has issued a new decrete to address the growing concern over money laundering and terror financing in relation to cryptocurrencies. The decree requires that all cryptocurrency companies operating in the country adhere to AML regulations. This development marks a significant step in the Peruvian government’s efforts to regulate the cryptocurrency ecosystem and safeguard its financial system from illicit activities.
Related Reading: The Netherlands has approved the registration of Crypto.com, which puts it ahead of Binance.
Disclosure of Crypto Holdings for Service Providers
In accordance with the decree, all virtual asset providers in Peru, including individuals and companies, must now report their information to the Financial Intelligence Unit. UIF-Peru receives, analyzes, and transmits information to detect money laundering and terrorist financing.
The definition of “Virtual Asset Service Providers” includes entities engaged in various cryptocurrency-related activities such as exchanging virtual assets for fiat or legal tender currencies, exchanging different…