South African Crypto Regulations for Taxation Now Being Drafted


A new draft of South African crypto regulations has been written by the South Africa Revenue Service (SARS), which is set to define a new framework for the taxation of digital currencies in the nation.

The move to implement new South African crypto regulations to control tax is similar to what we are seeing across the entirety of the crypto-sphere as governments and regulatory bodies look to get a firm grip on the industry. This comes at a time when the South African crypto industry is rapidly expanding.

New South African crypto regulations drafted

The new drafts of South African crypto regulations on taxation follow on from the issues raised in April 2018 by the South Africa Revenue Service (SARS), who laid out their plans to tax those who earned income with digital currencies.

The statement in a…

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