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In December, Peru introduced a cryptocurrency bill that aims to regulate relationships with digital assets already taking place in the country. The document defines the concept of a cryptoasset, as well as establishes the obligations of virtual asset service providers (VASP) and aims to legalize their use for inclusion and retention by companies.
The new bill was submitted to the Congress of Peru, which is the first attempt by the country to regulate the relationship with cryptoassets, according to news.bitcoin.
The law also proposes to create a public registry for the VASP, which users can refer to at a convenient time for them to obtain information about whether the exchange or platform in question has a registration in the Peruvian territory. In addition, the bill specifies the conditions that must be met by each VASP in order to carry out legal activities in the country.
According to this document, companies should inform the user in their service contract that Peru does not consider cryptocurrencies to be legal tender, and also that although the government oversees such assets and companies, this is not a guarantee against existing risks when working with cryptocurrencies. The bill also notes that crypto assets can be used to create and register companies.
Peru is another Latin American country that has joined crypto regulation following Brazil, Paraguay, Venezuela and El Salvador who are still working on similar laws or have already passed them.
In addition, we already wrote in November that Peru is also joining the CBDC race. Then the President of the Peruvian Central Bank Julio Velarde said that the country’s government is already working on the development of CBDC with the support of other states that are already more successful in this matter.
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