South Africa Compliance Report

Regulatory Overview

Regulatory Status

Dedicated crypto/VA legislation, licensing regime, active enforcement

Key Regulator(s)

Financial Sector Conduct Authority

Risk Level

medium

Primary Legislation

Financial Advisory and Intermediary Services Act (FAIS), FIC Act, FAIS Act 37 of 2002: Regulates CASP services, not issuance., Income Tax Act, 1962: Treats crypto as intangible assets subject to income tax., under Currency and Exchanges Act, 1933

Travel Rule

Adopted — Threshold: ,

Tax Reporting

SARS treats crypto as financial instrument; capital gains or income tax applies; exchange control restrictions. Annual exclusion: The first R40,000 of capital gains is tax-free.. Inclusion rate: Only 40% of gains above the exclusion threshold are included in your taxable income.. Maximum effective rate: This results in a maximum effective tax rate of 18% for individuals.. Mining, staking, or receiving crypto as remuneration

Key Facts

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