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Peru is studying crypto exchanges to find out future laws.

As reported by cointelegraph.com on October 28.2020, A Peruvian regulator authority said on October 26 that studies presently performed on local crypto exchanges will keep on going despite the COVID-19 pandemic, as the country is looking to find ways to regulate the national crypto industry.

According to local news outlet Gestion, Superintendent of the Financial Intelligence Unit of Peru (UIF) Sergio Espinosa emphasized the need to work out the policy behind cryptocurrencies in the country and called it a “priority”:

“One of the topics that we have not stopped is a diagnosis — which is being done — of the presence and scope in Peru of so-called virtual assets, including Bitcoin and other virtual assets that are not currencies, but that exist, trade and circulate, so there is a need to put out regulation on the matter.”

During his participation in the IV International Congress on Compliance and the Fight Against Corruption, Espinosa remarked on Peru’s lack of knowledge of the crypto sector, calling it uncharted territory. Espinosa also announced that studies into local crypto exchanges began in August as part of the UIF activities to collect enough information to find out future laws for the crypto sphere in Peru.

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