ChainCatcher news, according to Bitcoin.com, the South African government is strengthening its supervision of cryptocurrency transactions. The tax authority (SARS) is issuing tax notices and clarifying relevant regulations, and may use artificial intelligence (AI) to identify non-compliant traders.

The South African Reserve Bank (SARB) has made clear its position on the purchase of crypto assets. According to SARB regulations, individuals can use a single discretionary quota or foreign exchange capital quota to purchase crypto assets, but companies cannot invest in crypto assets through foreign direct investment incentive programs. SARB also stated that cross-border or foreign exchange transfers made solely for the purchase of crypto assets are not allowed.