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Peruvian Regulator Says COVID-19 Won’t Delay Crypto Regulation Plans

A leading Peruvian regulator has stated that the coronavirus pandemic will not derail the government’s plans to regulate the nation’s crypto industry – and has claimed “monitoring” of Peru-based crypto exchanges has already begun.

Per Gestión, Sergio Espinosa, the head of the top financial regulatory body, the Superintendencia de Banca, Seguros y AFP (SBS)’s Financial Intelligence Unit, said that the virus would not delay his organization’s work.

The unit has been preparing a diagnostic “on the use and the existence of [cryptoassets] in Peru,” with bitcoin (BTC) singled out for mention.

Espinosa said the move would help “regulate [cryptoassets],” claiming that this was currently “one of SBS’ current goals.”

The newspaper quoted Espinosa as stating,

“The first thing we need to do is fully understand this sector, especially in terms of what is happening in Peru in terms of virtual assets. We need to know where they are being accepted and other key data. Deeper knowledge is required in order to fully regulate it.”

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