Peru Issues VASP Regulation, Strengthens AML/TF Requirements

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The Superintendence of Banking and Insurance (SBS) of Peru, has issued a resolution that forces VASPs to implement Know Your Customer (KYC) and anti-money laundering (AML) measures as part of a compliance plan.

The resolution is in line with FATF recommendations and seeks to control and avoid criminals to use these platforms for illicit purposes.

Peru Issues Resolution Forcing VASPs to Integrate KYC and AML Compliance in Their Structures
Peru is introducing rules to regulate the operation of virtual asset service providers (VASPs) in the country.

Last month, the Superintendence of Banking and Insurance (SBS) of Peru issued resolution N° 02648-2024, which defined several guidelines these companies should follow to mitigate the risks of being used for illicit purposes.

The resolution defines that VASPs operating on Peruvian soil must appoint a compliance officer, and implement a system with Anti Money Laundering (AML) and Terrorism Financing (TF) measures. Also, Peruvian exchanges must now adopt effective Know Your Customer (KYC) policies, and establish due diligence steps to fulfill this goal.

In addition, the new rules establish that VASPs will have to obtain the identities and more data from users involved in transactions for over $1,000, effectively forcing these providers to implement travel rule compliance, given that “all transfers of virtual assets must be treated as electronic transfers.”

#Peru #VASP #Crypto #US #TONonBinance $BTC $ETH $SOL

More than 60,000 people in #Peru have received #bitcoin education.

The initiative is driven by the NGO Motiv, which has been deployed in regions such as the Amazon and the Andes of Peru since 2020.

#buildtogether

🇵🇪🔒 Peru steps up crypto regulations - Exchanges must now comply with AML rules and report suspicious transactions to UIF-Peru 💼🚨, reports Bitcoinist. Guidelines to follow in the coming days ⏳📝

#Peru #CryptoRegulation #AML 💱🔍

#RichSwisher proposes $BTC mining with energy from garbage.

Rich Swisher, the CEO of #MOTIV , a non-governmental organization that supports #Bitcoin communities in #Peru , claims that there is potential in Peru to convert garbage into energy and use it in Bitcoin mining.

According to Swisher, waste-to-energy generation is a trend in Latin America. In a Twitter interview with JAN3, a company specializing in Bitcoin, Swisher highlighted that Bitcoin mining in Peru can be very profitable.

#RichSwisher said that at #MOTIV they see opportunities for waste-to-energy in #Peru and that this could come to Lima

Bitcoin is changing Peru, from the bottom up.... Historically, economies can be governed from the top down, but they are created from scratch... Bitcoin allows you to create an #economy AND govern it from scratch! Currency MUST be governed by rules, NOT rulers.... #Bitcoin is the only one in history that ever offered that to humanity.

MOTIV's CEO argues that the possibility of harnessing garbage as a source of electricity is often overlooked. The idea is not at all far-fetched when you consider that garbage is essentially stored energy. Waste is a major problem for Peruvian society.

🫨👁️Worldcoin Pilots World ID Verification In Peru, WLD Price To Rally?

Having made significant progress with the help of #Worldcoin 's Orb verification, a vital component of World Identity verification, including remarkable developments in Argentina and Singapore, the project is now expanding to #Peru aiming to revolutionize digital identity. WLD, the local token of Worldcoin, is ready to potentially benefit from this expansion and is currently attracting the attention of investors, as it is witnessing a decline in price.

World Authentication Is Moving to Peru: What's Going On?
World Identity Verification is a state-of-the-art, open-source and permission-free digital identity protocol that allows individuals to verify their humanity online while protecting their privacy. This verification primarily takes advantage of Worldcoin's Orb verification process, which uses an Orb to scan a person's irises in order to generate a unique iris code, which is then used to create a distinctive digital identity.

In its official statement released on May 8, Worldcoin stated: 'World ID sphere verifications are now available in Lima, the capital of Peru.' Peruvians over the age of 18 have the right to prove their humanity online.

According to a recent survey conducted in March this year, 90% of more than 800 Peruvian respondents implied that they wanted technology-based solutions to distinguish people from online bots. Moreover, 84% said that mechanisms that separate machines from humans are 'very much needed' for the future.

Taking advantage of this opportunity, Worldcoin seems to have started a nationwide wave with World ID verification. As mentioned above, the development efforts in Argentina included the recording of about 500,000 World Authentications. However, last year, the company launched its Orb verification processes in Singapore in parallel with its efforts to expand its global foothold.
#WLD #altcoins #binance