Peru has no formal legal framework for stablecoins or crypto. In December 2021, Congress introduced a bill to regulate crypto exchanges and service providers, requiring registration with the Financial Intelligence Unit (FIU) and imposing AML obligations. The bill stalled and has not been enacted. Meanwhile, stablecoins (mainly USDT) are very popular in Peru, driven by inflation concerns and remittance flows. The Superintendencia de Banca, Seguros y AFP (SBS) and Central Reserve Bank of Peru (BCRP) have issued warnings but have not banned crypto or stablecoins.
