Is there a fintech law in Peru? What laws regulate fintech?

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What do you know about fintech regulation ? In Peru there is a wide variety of fintechs with diverse and interesting proposals. However, as in any business, there are also risks associated with them, both for investors and users. In order to reduce this uncertainty, there should be a Peruvian Fintech Law , which is still under development.

What we have so far in relation to fintech in Peru are regulations that can be applied to fintech. These have been developed by the financial regulatory system in Peru , which includes entities such as the Stock Market, the BCRP and the SBS. But there is no official document that addresses the regulation of fintech exclusively.

What will you find in this text?

What is financial regulation? What laws exist that impact fintech?

What approaches can the Government and regulators take to regulating fintech?

What is financial regulation? What laws exist that impact fintech?
Financial regulation is the rules established by the competent buy targeted email list to supervise, control and direct the operation of companies in the financial system. As for fintech, it refers to companies that offer financial solutions or solutions for the financial sector using technology. Here we find banks and digital wallets, exchange houses, among others.

Despite the fact that fintech companies in Peru have grown by 16% annually over the last 8 years, there is still no fintech law as such in the country. What there are are financial system regulations that impact fintech companies.

For example, there are regulations to promote security and efficiency in specific areas such as crowdfunding (FPF) and electronic payments, issued by the SMV and the BCRP. The BCRP also has the Law on the Payment System and Securities Settlement, which regulates payment fintechs, which are considered, according to this regulation, as payment service providers. In this context, the BCRP can request information from this group of fintechs to monitor their progress, functionality, volume of operations, etc.