Peru

Disclaimer: This overview is provided for informational purposes only and does not constitute legal or financial advice. Cryptocurrency regulations change frequently. Always consult qualified legal and financial professionals and verify information with official regulatory bodies before making decisions based on this content.

Legal Classification & Regulatory Framework

Cryptocurrency Status

Cryptocurrencies are legal in Peru but exist in a largely unregulated environment. No specific law either prohibits or formally regulates 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 Peru (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. If enacted, it would create RUPIC (Registro Unico 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 tax 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. The UIF-Peru (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 Credito del Peru (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 formal licensing creates uncertainty for banks in 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.

Licensing Requirements

Peru does not have a formal VASP licensing regime. 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. This registration covers four defined activities: exchange between virtual assets and fiat currency, exchange between virtual assets, transfer of virtual assets, and custody or administration of virtual assets.

SBS Resolution No. 02648-2024 (effective August 2024) established detailed AML/CFT requirements for registered VASPs, including implementation of a complete anti-money laundering prevention system (SPLAFT), appointment of a compliance officer, customer due diligence procedures, an operations register documenting all transactions, suspicious activity reporting to UIF-Peru, and regular risk assessments. VASPs were given a 120-day adaptation period. The Travel Rule requiring originator and beneficiary information for virtual asset transfers is scheduled to take effect in August 2026. No specific rules exist for NFTs, DeFi, staking, or crypto lending.

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 mid-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.

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 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. Local and international exchanges serve the Peruvian market, with the regulatory focus on AML/CFT compliance creating a framework oriented toward preventing illicit use while allowing the market to develop organically.

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 regulatory steps. Comprehensive legislation through Bill 1042/2021-CR and explicit tax rules remain pending.

Peru is a member of GAFILAT (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 2023-2024, which should strengthen compliance with FATF Recommendation 15 on new technologies and virtual assets.

For Current Information:

• Superintendencia de Banca, Seguros y AFP (SBS)
• Superintendencia del Mercado de Valores (SMV)
• Banco Central de Reserva del Peru (BCRP)
• SUNAT – National Tax Authority
• FATF – Peru Country Page