A draft of a new cryptocurrency asset law was introduced in Peru in December, seeking to regulate the cryptocurrency interactions that are already happening in the country. The draft law, besides defining what a crypto asset is and establishing the duties of virtual asset service providers , also seeks to legalize the use of assets to incorporate and be held by companies.
In addition, it establishes the conditions that each VASP must follow to operate lawfully in the country.The draft compels these companies to inform, in their contract of services to the user, that Peru does not consider cryptocurrencies legal tender, and that the supervision of these assets by the government constitutes no guarantee against the risks that operating with cryptocurrencies can bring to users.
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