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Australia vs South Africa

Crypto regulation comparison

← Back to map | Australia | South Africa
Australia

Australia

South Africa

South Africa

Legal
Legal

Cryptocurrency is legal and well-regulated in Australia. AUSTRAC oversees AML/CTF compliance for exchanges, ASIC handles consumer protection, and the ATO treats crypto as property for tax purposes. Australia has been developing a comprehensive licensing framework for digital asset platforms.

South Africa has embraced crypto regulation. In 2022, the FSCA declared crypto assets as financial products under the Financial Advisory and Intermediary Services (FAIS) Act, requiring crypto service providers to obtain FSCA licenses. SARS taxes crypto gains under capital gains tax (up to 18% effective rate for individuals) or income tax depending on trading frequency. South Africa is the largest crypto market in Africa.

Tax Type Capital gains
Tax Type Capital gains
Tax Rate 0-45%
Tax Rate 18% (effective max ~18%)
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining No No
Regulator ASIC, AUSTRAC, ATO
Regulator FSCA (Financial Sector Conduct Authority), SARB (South African Reserve Bank)
Stablecoin Rules Stablecoins to be regulated under proposed payments framework legislation
Stablecoin Rules Crypto assets declared financial products under FAIS; stablecoins included
Key Points
  • Digital currency exchanges must register with AUSTRAC and comply with AML/CTF Act
  • ATO treats cryptocurrency as a CGT asset; holding for 12+ months qualifies for 50% discount
  • ASIC regulates crypto products that qualify as financial products under the Corporations Act
  • Treasury released a token mapping consultation in 2023 to classify digital assets
  • Proposed licensing regime for digital asset platforms under development
Key Points
  • Crypto declared a financial product under FAIS Act (2022); service providers must be FSCA-licensed
  • FSCA began licensing crypto asset service providers (CASPs) in 2023
  • Capital gains taxed at effective rate up to 18% (45% max marginal rate × 40% inclusion)
  • Frequent trading may be classified as income and taxed at marginal rates (up to 45%)
  • SARB regulates cross-border crypto transactions under exchange control regulations
Sources
Sources