Peru issues VASP regulations to control and prevent criminals from using virtual asset platforms for illegal purposes

2024-08-11 10:20:05

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ChainCatcher news, according to Bitcoin.com, the Superintendencia de Banca, Seguros y AFP (SBS) of Peru has issued a resolution requiring virtual asset service providers (VASP) to implement KYC and anti-money laundering (AML) measures as part of their compliance programs. This resolution aligns with FATF recommendations aimed at controlling and preventing criminals from using these platforms for illegal purposes.

The resolution stipulates that VASPs operating within Peru must appoint a compliance officer and implement a system for anti-money laundering (AML) and terrorism financing (TF) measures. Additionally, Peruvian exchanges are now required to adopt effective "KYC" policies and establish due diligence steps to achieve this.

Furthermore, the new rules also state that VASPs must obtain identity and additional data from users participating in transactions over $1,000, effectively compelling these providers to implement travel rule compliance, as "all transfers of virtual assets must be considered electronic transfers."

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Peru anti-money laundering KYC VASP

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