The cryptocurrency exchange platforms in Peru must provide the Financial Intelligence Unit with the data of the users for security measures.

According to a recent legislative decree of the Peruvian government, user data must be delivered to the agency as a measure to prevent crimes such as money laundering and terrorist financing with cryptocurrencies.

The decree establishes: “Incorporate as obligated subjects to inform the FIU-Peru, in accordance with the provisions of numeral 3.3 of article 3 of Law No. 29038, the Virtual Asset Service Providers (PSAV) that include any physical person or legal entity, domiciled or incorporated in the country, that is not covered in any other of the Recommendations of the International Financial Action Task Force (GAFI)”.

This means that all companies that offer: “exchange between virtual assets and fiat or legal tender currencies; exchange between one or more forms of virtual assets; transfer of virtual assets; custody and/or administration of virtual assets or instruments that allow control over virtual assets and participation and provision of financial services related to an issuer’s offer and/or sale of a virtual asset”.

Exchanges are also required to implement KYC (customer identification) mechanisms in order to keep their data on record.

M.Pino

Source: diariobitcoin

(Reference image source: Unsplash, in collaboration with Getty Images)

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La entrada Peruvian crypto platforms to submit user data to the Government apareció primero en Bitfinance.