Crypto Overview in Peru

Regulatory data is for informational purposes only and may not reflect the most current legal developments. Always consult qualified professionals before making decisions.

Legal Classification and Regulatory Framework

Cryptocurrency Status

Cryptocurrencies are legal in Peru but exist in a largely unregulated environment. No specific law either prohibits or formally licenses crypto-assets. They are not recognized as legal tender and are generally treated as intangible, movable assets under existing civil and commercial law. Neither the Superintendencia de Banca, Seguros y AFP (SBS), the Superintendencia del Mercado de Valores (SMV), nor the Banco Central de Reserva del Perú (BCRP) has formally classified crypto-assets as currencies, securities, or commodities through binding regulation.

SUNAT, the national tax authority, confirmed the absence of dedicated crypto rules in Letter No. 000034-2023-SUNAT (July 2023), stating that Peru’s legal system “does not provide specific regulation for cryptocurrencies, nor for their marketing or other types of transactions.” Bill No. 1042/2021-CR, the proposed Framework Law for the Commercialization of Cryptoassets, was approved by the Economics, Banking and Financial Intelligence Commission and awaits a full congressional vote as of early 2026. If enacted, it would create RUPIC (Registro Único de Plataformas de Intercambio de Criptoactivos), a mandatory registry for crypto exchange platforms supervised by the SBS.

Tax Treatment

Peru currently has no specific tax legislation for cryptocurrencies. Peru’s Income Tax Law (Article 63) requires an express statutory basis for income taxation, and without explicit crypto provisions, the legal basis for taxing crypto profits remains ambiguous. The IGV (Peru’s value-added tax) generally does not apply to crypto transactions, as they are considered intangible asset transfers rather than goods or services. The ITF (Financial Transaction Tax) does apply to crypto-to-fiat transfers through the banking system.

In February 2025, SUNAT Superintendent Victor Mejia announced plans to amend the Income Tax Law to explicitly classify crypto disposals as taxable capital income, with proposed individual rates ranging from 5% to a progressive 8-30% scale and companies facing the standard 29.5% corporate income tax rate. These proposals had not been enacted into law as of early 2026. A notable asymmetry exists: cryptocurrency ETFs listed on the Lima Stock Exchange qualify as securities and are taxed on sale, while direct crypto sales remain in a gray area.

Regulatory Oversight

Several regulators share oversight responsibilities. The SBS is the primary AML/CFT supervisor for VASPs and would become the licensing authority under the pending crypto bill. UIF-Peru (Unidad de Inteligencia Financiera del Perú, the Financial Intelligence Unit within the SBS) receives VASP compliance reports and suspicious activity reports. The SMV regulates securities and has issued public risk warnings about crypto but has not asserted direct jurisdiction. The BCRP oversees monetary policy, distinguishes crypto from legal tender, and is piloting a central bank digital currency. SUNAT monitors crypto income and is pursuing explicit tax legislation. INDECOPI handles consumer protection and competition matters.

Business Environment

Banking Relationships

A landmark development occurred in October 2025 when Banco de Crédito del Perú (BCP), the country’s largest bank, launched Criptococos, Peru’s first regulated bank-integrated crypto platform. The pilot, approved by the SBS in April 2025 after an application submitted in September 2024, allows users to buy and sell Bitcoin and USDC within a closed-loop system powered by BitGo for custody. Participation requires an existing BCP banking relationship and completion of an investment risk assessment, with all transactions fully traceable for AML/CFT compliance.

Beyond this pilot, traditional Peruvian banks have historically been cautious toward crypto businesses. The absence of a formal licensing regime creates uncertainty for banks onboarding crypto companies as clients. The BCP initiative represents a significant shift in attitude and could set precedent for other institutions, though it operates under the SBS sandbox framework rather than as a full commercial product.

Innovation Support

The SBS operates a regulatory sandbox that was significantly expanded in November 2025 through SBS Resolution No. 4142-2025. Previously limited to SBS-authorized financial institutions, the sandbox now allows non-supervised entities including fintechs, startups, and cooperatives to participate. Pilot projects can run for 18 months with an additional 12-month extension, totaling up to 30 months.

The BCRP launched its first central bank digital currency pilot in April 2024 in partnership with Viettel Peru (Bitel), using the BiPay digital wallet to target financial inclusion in underserved areas with low electronic payment penetration. By September 2025, the pilot had reached approximately 107,000 users with 7.9 million soles in circulation. The government has also explored blockchain applications in public procurement, land registries, and social programs to enhance transparency, though these initiatives remain at an early stage.

Crypto License in Peru

Peru does not yet have a formal VASP licensing framework. Instead, the country operates a mandatory registration and AML compliance model under Supreme Decree No. 006-2023-JUS and SBS Resolution No. 02648-2024. These instruments define the obligations that crypto-asset service providers must meet while the comprehensive licensing regime envisaged by Bill No. 1042/2021-CR remains pending in Congress.

Licensing Requirements

Under Supreme Decree No. 006-2023-JUS (July 2023), VASPs must register with UIF-Peru in the Register of Companies and Persons Engaged in Financial or Currency Exchange Operations. The decree covers four defined activities: exchange between virtual assets and fiat currency, exchange between one virtual asset for another, transfer of virtual assets on behalf of customers, and custody or administration of virtual assets or instruments controlling them.

SBS Resolution No. 02648-2024 (effective August 2024) established detailed AML/CFT compliance requirements for registered VASPs. Operators must implement a complete anti-money laundering prevention system known as SPLAFT (Sistema de Prevención del Lavado de Activos y Financiamiento del Terrorismo), appoint a dedicated compliance officer, carry out customer due diligence procedures proportionate to risk, maintain an operations register documenting all transactions, submit suspicious activity reports to UIF-Peru, and conduct regular enterprise-wide risk assessments. VASPs were given a 120-day adaptation period from the resolution’s effective date. No specific rules have been issued for NFTs, DeFi protocols, staking services, or crypto lending.

Authorized Activities

The four VASP activities covered by the 2023 Supreme Decree can be conducted legally by entities that have completed UIF-Peru registration and satisfy the SBS Resolution No. 02648-2024 compliance requirements. There is no restriction on the type of legal entity that may register; both domestic companies and branches of foreign firms are eligible. Crypto-asset ETFs listed on the Lima Stock Exchange fall under SMV securities jurisdiction and are treated as financial instruments distinct from direct crypto holdings.

If Bill No. 1042/2021-CR is enacted, the RUPIC registry would replace the current UIF-Peru registration system and would be administered by the SBS. The bill would introduce stricter authorization criteria, capital requirements, and ongoing supervisory obligations closer to those of traditional financial intermediaries.

Application Process and Timeline

Registration with UIF-Peru is handled through the SBS’s online portal. Applicants must submit corporate incorporation documents, identification of beneficial owners, a description of the VASP activities to be carried out, and an outline of their AML/CFT compliance framework. No registration fee or minimum capital threshold currently applies under the 2023 regime. Processing times vary and the SBS has not published a standard timeline, but the 120-day compliance adaptation granted to existing VASPs following the August 2024 resolution provides a reference point for the regulatory pace.

The Travel Rule, requiring VASPs to collect and transmit originator and beneficiary information for virtual asset transfers above defined thresholds, is scheduled to take effect in August 2026. Operators planning Peru market entry should build Travel Rule compliance into their technical infrastructure before that date. The SBS sandbox (expanded under SBS Resolution No. 4142-2025) remains available for innovative business models that do not fit cleanly into the existing registration categories, with pilot durations of up to 30 months.

Market Characteristics

Adoption Patterns

Peru ranked 42nd in the Chainalysis 2024 Global Crypto Adoption Index, up from 49th in 2023, with approximately $28 billion in crypto transaction volume. Crypto app downloads in Peru grew 50% in 2025, reaching 2.9 million. The market is characterized as yield-seeking, where crypto offers returns that traditional savings vehicles cannot match, distinct from the inflation-hedge motivation driving adoption in neighboring countries like Argentina and Venezuela. Peru, along with Argentina, Brazil, Chile, Colombia, and Mexico, accounts for 87% of total crypto users across Latin America.

Industry Focus

Peru’s crypto ecosystem centers on exchange services and stablecoin usage for savings and remittances. BCP’s launch of Criptococos places Peru ahead of some regional peers in banking integration: Chile, despite enacting its Fintech Law in 2023, has no bank offering direct crypto services as of early 2026. Both local operators and international platforms serve the Peruvian market, with the current regulatory framework oriented toward AML/CFT compliance while allowing the market to develop organically pending comprehensive legislation.

Regulatory Evolution

Peru’s regulatory trajectory follows an AML-first approach, prioritizing anti-money laundering compliance before comprehensive market regulation. The 2023 Supreme Decree bringing VASPs under AML obligations and the 2024 SBS Resolution establishing detailed compliance requirements represent the most concrete steps taken to date. Comprehensive licensing through Bill No. 1042/2021-CR and explicit tax rules through an amended Income Tax Law remain the two outstanding legislative milestones.

Peru is a member of GAFILAT (Grupo de Acción Financiera de Latinoamérica, the Financial Action Task Force of Latin America). Its 4th Round Mutual Evaluation, published in 2019 based on a 2018 on-site visit, found a sound legal and institutional framework with substantial effectiveness in financial intelligence and international cooperation, but moderate to low effectiveness in areas including legal persons transparency and money laundering prosecution. Peru was placed under enhanced follow-up, with improvements noted in subsequent assessments. The 2019 evaluation predates the VASP-specific regulations enacted in 2023 and 2024, which should strengthen compliance with FATF Recommendation 15 on new technologies and virtual assets. Peru is not on the FATF grey list as of early 2026.