According to ChainCatcher, 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 clarified its stance on crypto asset purchases. According to SARB regulations, individuals can purchase crypto assets using a single discretionary quota or foreign exchange capital quota, but companies cannot invest in crypto assets through the foreign direct investment incentive program. SARB also stated that cross-border or foreign exchange transfers made solely for the purchase of crypto assets are not permitted.