Peru vs Seychelles
Crypto regulation comparison
Peru
Seychelles
Legal
Legal
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.
The VASP Act 2024 effective Sept 2024 establishes FSA as regulator for virtual asset service providers. Exchanges require licensing. Mining and mixer/tumbler services are prohibited in Seychelles.
Tax Type
Capital gains
Tax Type
No tax
Tax Rate
5-30%
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
No
Regulator
SBS, SMV, BCRP (Central Reserve Bank of Peru)
Regulator
Financial Services Authority (FSA)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Regulated under VASP Act 2024
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
Key Points
- VASP Act 2024 enacted Aug 30, effective Sept 1, 2024
- FSA licenses and supervises all virtual asset service providers
- Mining facilities and mixer/tumbler services prohibited
- VASPs must maintain local office and resident director
- Licensed IBC VASPs taxed at 1.5% on assessable income