Fiji vs South Africa
Crypto regulation comparison
Fiji
South Africa
Banned
Legal
All cryptocurrency and virtual asset services banned since August 2025; RBF has not licensed any VASP; penalties up to M fine or 14 years imprisonment
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
Unclear
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
18% (effective max ~18%)
Exchanges
No
Exchanges
Yes
Mining
No
Mining
No
Regulator
Reserve Bank of Fiji
Regulator
FSCA (Financial Sector Conduct Authority), SARB (South African Reserve Bank)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Crypto assets declared financial products under FAIS; stablecoins included
Key Points
- No specific cryptocurrency legislation
- Reserve Bank warns about crypto risks
- Crypto not recognized as legal tender
- Limited crypto adoption
- No licensing framework for crypto services
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