Peru launches a bill to regulate cryptocurrencies

The bill was introduced on December 20 by MP José Elías Ávalos. With this, Peru joins other Latin American countries such as Paraguay, Uruguay, Panama, and Brazil that have submitted projects to advance legislation in 2021.

RIO DE JANEIRO, BRAZIL - Peru joins countries seeking to regulate cryptocurrencies. Lawmaker José Elías Ávalos of the Podemos Perú party has submitted a bill called the Framework Law for the Commercialization of Cryptoassets, which aims to regulate organizations that offer cryptocurrency services.

Peru has seen strong growth in adoption: In 2021, transactions increased by 258%, with Bitcoin being the most popular currency, accounting for 70% of purchases and sales, according to the latest Buda report.

The project, unveiled in late December, sets "the guidelines for the operation and functioning of cryptocurrency service providers through technological platforms based on the . . .

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