According to PANews, 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 in accordance with FATF recommendations to prevent illegal use.
The resolution requires VASPs operating in Peru to appoint compliance officers and implement a system of anti-money laundering (AML) and terrorist financing (TF) measures. Exchanges are required to adopt effective KYC policies and establish due diligence procedures.
The new rules require VASPs to obtain identities and more data from users participating in transactions over $1,000, enforce travel rule compliance, and treat all virtual asset transfers as electronic.
