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Superintendency of the securities market (SMV) cautioned against fundraising arrangements announced for the purpose of financing projects and activities, selling virtual currencies or crypto-currencies or by systems known internationally as Initial Coin Offerings (ICO)
In this regard, he pointed out that no specific regulation in Peru covered the offer or promotion of cryptographic virtual currencies, or units of value called "tokens".
"These are not supported by any financial authority or government entity, and as a result, companies that make such offers or promotions are not under surveillance," he said in a statement.
In the same line, the Central Reserve Bank (BCR) He recently pointed out that the cryptocurrencies were not backed by central banks and presented risks because of the high volatility of their prices, cases of fraud and their possible use in illicit activities.
On the other hand, the VMS reminded that advertising or the offer of buying, selling or underwriting financial assets in the national territory and using mass media can only be performed only by companies approved or supervised by the VPS or SBS. Citizens can consult the directory of entities authorized by the aforementioned institutions on their respective websites, he explained.
That being said, the VPS cautioned against the potential risks associated with the promotion of virtual currencies, cryptocurrencies or tokens, generated by the media (Internet, e-mail, social networks, among others), public events including educational mass communication. Faced with this, he urges to get adequate information before allocating his money to such acquisitions.
BITCOIN IS DISPLAYED
The price of Bitcoin It dropped 56% until October 2018 and more than 30% so far in November, the BCR said.
The price of bitcoin dropped by 56% until October 2018 and has fallen by more than 30% so far in November. Crypto-currencies are not backed by central banks and carry risks because of the high volatility of their prices, cases of fraud and their possible use in illicit activities. pic.twitter.com/nK9vxgv0Pt
– BCRP – Central Bank (@bcrpoficial) November 26, 2018
Monday, its depreciation has worsened, reaching $ 3,843, a decline of more than 5% over the intraday maximum for the resumption of sales of cryptocurrencies.
Other cryptographic currencies have also depreciated significantly. The Ethereum ether dropped 1.6% and the Ripple XRP, of a similar depreciation, in a depreciation largely caused by a lack of confidence.
Bitcoin was trading at $ 3,880, remaining above the lows of 2018 it had hit last week. A widespread wave of digital currency sales subtracted three-quarters of the world's best-known cryptocurrency value this year.
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