PERU Law and Practice Contributed by: Luis Ernesto Marín and Andrés Kuan-Veng, Rubio Leguía Normand
KYC requirements for crypto service provid - ers. The Decree Supreme 006-2023-JUS has already designated cryptocurrency-related busi - nesses as subjects to AML oversight. However, the absence of a formal licensing framework for crypto exchanges means they operate with lim - ited regulatory clarity. There are ongoing discus - sions on whether to integrate them into Peru’s financial ecosystem under the supervision of the SMV or SBS. 6.4 Listing Standards No listing standards for crypto-assets or virtual assets are provided by Peruvian regulation. 6.5 Order Handling Rules Absent of specific regulation for crypto-assets or virtual assets, no order handling rules apply for crypto-assets or virtual assets. 6.6 Rise of Peer-to-Peer Trading Platforms No regulation regarding peer-to-peer trading platforms exists in Peru. 6.7 Rules of Payment for Order Flow There are no specific rules permitting or prohibit - In Peru, the Securities Market Law establishes the fundamental principles of market integrity and market abuse that regulate trading. These principles include the quality of information, market transparency, and publicity, and prohibit any acts, omissions, practices, or conduct that could undermine the integrity or transparency of the market. It is important to note that these provisions only apply to public securities offerings and their issuers, as defined by the Securities Market ing payment for order flow in Peru. 6.8 Market Integrity Principles
Law. Currently, no specific regulations apply to crypto-assets or virtual assets in Peru.
7. High-Frequency and Algorithmic Trading 7.1 Creation and Usage Regulations There is currently no specific regulation govern - ing the creation and use of High-Frequency and Algorithmic Trading, and the SMV does not pro - vide a specific definition for regulatory purposes. While it appears that High-Frequency and Algo - rithmic Trading is not currently being practised in Peru, in the absence of specific regulations, High-Frequency and Algorithmic Trading would be subject to general regulatory oversight. 7.2 Requirement to Be Licensed or Otherwise Register as Market Makers When Functioning in a Principal Capacity Since there is no specific regulation that applies to High-Frequency and Algorithmic Trading, there are no specific rules requiring traders who use these strategies to register as market mak - ers when functioning in a principal capacity. 7.3 Regulatory Distinction Between Funds and Dealers There is currently no specific regulation that applies to the creation or use of High-Frequency and Algorithmic Trading. As a result, there is no regulation that distinguishes between funds and dealers who engage in these types of transac - tions. 7.4 Regulation of Programmers and Programming In Peru, there is no specific regulation that applies to programmers who create trading algorithms and other trading tools. However, computer programs are considered protected
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