South Africa’s tax authority proposes crypto tax guidance

South Africa’s tax authority has put forward draft guidance on taxing cryptocurrency assets. The proposal seeks to explain how current rules on income and capital gains apply to crypto.

The South African Revenue Service, or SARS, released the draft guidance to address taxation of crypto assets.

It focuses on clarifying existing income tax and capital gains tax regulations rather than introducing new rules.

The move comes as authorities aim to provide clearer direction for taxpayers dealing in digital currencies.

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Illustration of congressional committee reviewing crypto tax legislation
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House committee to review seven crypto tax bills

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The U.S. House Ways and Means Committee is circulating seven draft bills on crypto tax policy ahead of a hearing scheduled for June 9.

South Africa's National Treasury has gazetted the Draft Capital Flow Management Regulations 2026, modernising outdated exchange controls to include cryptocurrencies. The proposals aim to combat money laundering and illicit financial flows but have sparked debate over vague thresholds and restrictions on peer-to-peer transactions. Industry voices criticise the lack of defined limits and potential overreach.

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Treasury Cabinet Secretary John Mbadi has clarified that the Finance Bill 2026 does not introduce new taxes on cryptocurrency, bread or mobile money transactions.

The Senate Banking Committee voted 15-9 to advance the Digital Asset Market Clarity Act on May 17. The move signals progress toward a regulatory framework for cryptocurrencies in the United States, though the bill still requires a full Senate vote.

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Kenya's National Assembly has called for public submissions on the Finance Bill 2026, which proposes new taxes on mobile phones, imported second-hand clothes and digital assets.

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