Tag Archives: Central Bank in Peru

Why Peru’s Central Bank has Warned Against Crypto Trading and the Impacts of this Warning

  By David Drake   In November of last year, the central bank of Peru released a warning announcing that cryptocurrencies do not have the support of central banks and are, therefore, risky investments. According to the bank, digital currencies pose a risk to investors because they are subject to high volatility and are vulnerable to fraud and the application […]

Trading With Cryptocurrencies is Risky, Warns Peruvian Government

  By David Drake   The topsy-turvy cryptocurrency roller coaster ride hit another descent as the government of Peru put up a staunch resistance to its trade and use. This came as the prices of Bitcoin and other leading cryptocurrencies took a huge hit last month, suffering an 80 percent fall in value since the start of the year. The […]

Peru’s Central Bank Warning: Will it Affect South America’s Cryptomarket?

  By David Drake   Some South American countries have widely accepted the use of cryptocurrencies more than others. The cryptomarket growth in this region has been linked to the need for citizens to find ways to make ends meet. Peru has experienced an increase in the use and trading of virtual currencies and is positive about its prospects. However, […]

Can South America Achieve Sustainable Cryptocurrency Growth?

  By David Drake   For a long time, the financial sector has largely remained unchanged, but this may no longer be the case. Cryptocurrencies are slowly but surely making headway towards transforming the way transactions are carried out significantly. For instance, companies such as Microsoft are accepting cryptocurrencies as payment for goods and services offered. The inherent benefits of […]