South Africa

Binance Transfers South African Derivatives Users to Bahrain Subsidiary

September 3, 2024

Binance announced on Tuesday that it will transfer its South African users who trade derivatives to its Bahrain subsidiary Bahrain B.S.C. (c) The crypto exchange shared in a blog post that this move will ensure “that it (Binance) continues to comply with its regulatory

Policy·Regulation

SARS Cracks Down on Crypto: Major Investigation Targets Tax Evasion and Financial Misconduct

October 14, 2024

The South African Revenue Service (SARS) has launched a major investigation into cryptocurrency investments. SARS is taking a hard line against non-compliant taxpayers. This is part of a bold move to combat tax evasion and financial misconduct. More than 5.8 million South Africans now own some form of cryptocurrency. As a result, SARS is intensifying