Peru issues VASP regulations to control and prevent criminals from using virtual asset platforms for illegal purposes
According to Bitcoin.com, the Peruvian Banking and Insurance Superintendent (SBS) issued a resolution requiring virtual asset service providers (VASPs) to implement KYC and anti-money laundering (AML) measures as part of a compliance program. The resolution is in line with FATF recommendations and aims to control and prevent criminals from using these platforms for illegal purposes.
The resolution stipulates that VASPs operating in Peru must appoint a compliance officer and implement a system of anti-money laundering (AML) and terrorist financing (TF) measures. In addition, Peruvian exchanges must now adopt an effective "KYC" policy and establish due diligence steps to achieve this goal.
Additionally, the new rules require VASPs to obtain identity and additional data from users engaging in transactions over $1,000, effectively forcing these providers to implement Travel Rule compliance as “all transfers of virtual assets must be treated as electronic transfers.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Cardano Surges in Active Addresses Hitting 52,000, Is a Price Rally on the Horizon?
![](https://img.bitgetimg.com/multiLang/image/social/6294c0d1a9a759962fb32ebdcc5509ee1725970326516.jpg)
DOGS token sets memecoin record with 17M users on The Open Network
Nigeria to Crack Down on Unregulated Cryptocurrency Activities
![](https://img.bitgetimg.com/multiLang/image/social/2a1e7dcf48be206a63d3df769ffc10901725967445397.jpeg)
How to outperform Bitcoin — The ultimate benchmark of digital assets