Tag: crypto asset

With South Africa tightening its grip on crypto regulations, Crypto Asset Service Providers (CASPs) must act now to avoid compliance failures. As of April 30, 2025, new crypto compliance rules in form of Directive 9 will introduce stricter requirements for tracking and reporting crypto asset transactions.

In this vidcast, we take a look at the latest warning from the South African Revenue Service (SARS) related to taxation on crypto assets and crypto-related earnings. The aim is to get a better understanding of the driving factors, investment cases, and opportunities that may present themselves.

While emotions might run high during a business disagreement, choosing the right dispute resolution method is a practical decision. Dispute resolution attorneys understand this and that it is inevitable for disputes to arise. For this reason, companies must grasp and understand how international arbitrations work, so as to be well-equipped to navigate disputes effectively when they occur.

Landing in a position of indebtedness to South African Revenue Service (SARS) can be quite a stressful journey on its own; if forgetting to leave room for crypto profits or gain, in your suitcase, the destination becomes all that more daunting.

Although cryptocurrencies are on an upward trajectory in South Africa, a cryptocurrency wallet is worthless without its key or password. That was the reality for a 24-year-old Bitcoin-holder in 2021, who, after mining 20 Bitcoin for more than ten years when the cryptocurrency was still only worth a few cents, lost his wallet key and access to around R14.18 million in Bitcoin.

A new report provides an overview of the financial technology (fintech) regulatory frameworks of 39 jurisdictions across Africa, Asia Pacific, Europe, North America and South America. The report, titled Fintech: how is the world shaping the financial innovation industry?, addresses how different regulators around the world are dealing with the application of technology and innovation to banking and financial services as well as society’s present concerns.

The Financial Sector Conduct Authority (FSCA) officially declared crypto assets as financial products under the Financial Advisory and Intermediary Services Act. This is a big step forward towards avoiding South Africa’s infamous decline into the Financial Action Task Force (FATF) grey list.

The South African Reserve Bank (SARB) recently announced their intention to declare cryptocurrency as a financial product, which is in line with current worldwide trends as well as the Financial Sector Conduct Authority (FSCA) which published a draft declaration of crypto assets as financial products in 2020.

The Financial Intelligence Centre (FIC) is set to include more sectors under its purview as accountable institutions while addressing gaps that may exist in the country’s anti-money laundering and counter-terrorist financing framework.

Keep up to date on the most important Financial Services Regulation developments in South Africa in June 2021.