Argentina vs Peru
Crypto regulation comparison
Argentina
Peru
Legal
Legal
Cryptocurrency is legal in Argentina and widely adopted due to persistent inflation and currency controls. The CNV regulates crypto service providers under a 2024 registration framework. Argentina has one of the highest crypto adoption rates globally, with stablecoins used as a hedge against peso devaluation.
Cryptocurrency is legal in Peru but lacks comprehensive regulation. The SBS (Superintendencia de Banca, Seguros y AFP) oversees AML requirements. Peru has growing crypto adoption, particularly for remittances. Crypto gains are subject to capital gains tax at 5% for the first 5 UIT and at higher rates for larger amounts.
Tax Type
Income
Tax Type
Capital gains
Tax Rate
5% (peso-denominated) / 15% (foreign currency)
Tax Rate
5-30%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CNV (Comisión Nacional de Valores), BCRA
Regulator
SBS, SMV, BCRP (Central Reserve Bank of Peru)
Stablecoin Rules
No specific stablecoin regulation; USD-pegged stablecoins widely used informally
Stablecoin Rules
No specific stablecoin regulation
Key Points
- CNV registered as the regulatory authority for virtual asset service providers (VASPs) under FATF guidelines
- Crypto gains taxed as income under the income tax law at progressive rates
- High adoption driven by inflation and capital controls on the Argentine peso
- Exchanges must register with the CNV and comply with AML/KYC requirements
- No legal tender status for crypto; the peso remains the only legal tender
Key Points
- No specific crypto legislation; general financial laws apply
- Capital gains tax applies to crypto profits (5% for securities, up to 30% for other income)
- SBS requires AML/KYC compliance for entities dealing in crypto
- Growing crypto adoption for remittances and as a store of value
- BCRP has warned about crypto risks but not imposed a ban