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Tag: South Africa

Bitcoin and Cryptos to be Taxed, Says South African Revenue Service

Category: Altcoins, Bitcoin, Mining, News, Regulation

Bitcoin and Cryptos to be Taxed, Says South African Revenue Service

Based on a statement published by the South African Revenue Service (SARS) on its website, on April 6, 2017, cryptocurrency holders will now need to pay taxes on their holdings. By virtue, South Africa is now one of the countries where the government has issued a definitive ruling on the issue of cryptocurrency taxation. South Africa remains one of the…

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South African Investors Swindled Out of More Than $50 Million Through Bitcoin Scam

Category: Bitcoin, Finance, News

South African Investors Swindled Out of More Than $50 Million Through Bitcoin Scam

While the popularity of cryptocurrencies is ever increasing and more and more people are getting involved in the investment side of digital currencies, there are still a lot of pitfalls in the sector that need to be avoided. Whenever there is an industry where significant sums of money are flooding in, there will be people trying to take advantage of…

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The State of Bitcoin in South Africa

Category: Bitcoin, Business, Commentary, News

The State of Bitcoin in South Africa

South Africa has one of the most active bitcoin economies on the African continent, gauged by its bitcoin trading volumes and the amount of bitcoin and blockchain startups it has. South Africa is one of the most developed countries in Africa and has the third largest economy in the continent after Nigeria and Egypt. While its economy has recently struggled…

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South Africa’s Pro-Bitcoin Stance Is Boosting Innovation In Africa’s Largest Economy

Category: Bitcoin, Business, News, Regulation

South Africa’s Pro-Bitcoin Stance Is Boosting Innovation In Africa’s Largest Economy

South African regulators have taken a positive stance towards Bitcoin and are thereby contributing to the creation of a favorable environment for bitcoin and blockchain startups to flourish. In a white paper published by the South African Reserve Bank in December 2014, South Africa’s central bank stated that, while cryptocurrencies (referred to as Decentralized Convertible Virtual Currencies in the paper)…

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