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Bahamas vs South Africa

Crypto regulation comparison

← Back to map | Bahamas | South Africa
Bahamas

Bahamas

South Africa

South Africa

Legal
Legal

The Bahamas enacted the Digital Assets and Registered Exchanges (DARE) Act in 2020, creating a comprehensive regulatory framework. The SCB oversees digital asset businesses. The Bahamas also launched the Sand Dollar CBDC.

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 No tax
Tax Type Capital gains
Tax Rate 0%
Tax Rate 18% (effective max ~18%)
Exchanges Yes Yes
Exchanges Yes Yes
Mining No No
Mining No No
Regulator Securities Commission of the Bahamas (SCB)
Regulator FSCA (Financial Sector Conduct Authority), SARB (South African Reserve Bank)
Stablecoin Rules Regulated under DARE Act 2024; algorithmic stablecoins banned
Stablecoin Rules Crypto assets declared financial products under FAIS; stablecoins included
Key Points
  • DARE Act (2020) provides comprehensive regulation for digital assets and exchanges
  • Securities Commission of the Bahamas licenses and supervises digital asset businesses
  • No income tax, capital gains tax, or crypto-specific taxes
  • Sand Dollar CBDC launched in 2020 as one of the world's first
  • FTX collapse in 2022 led to enhanced scrutiny and regulatory updates
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