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Oman vs South Africa

Crypto regulation comparison

← Back to map | Oman | South Africa
Oman

Oman

South Africa

South Africa

Legal
Legal

Oman has moved to regulate cryptocurrency with the Capital Market Authority issuing a Virtual Assets Regulatory Framework in 2023. VASP licensing is being implemented, and Oman has attracted crypto mining operations due to its energy resources. There is no personal income or capital gains tax in Oman.

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 None
Tax Type Capital gains
Tax Rate 0%
Tax Rate 18% (effective max ~18%)
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining No No
Regulator CMA (Capital Market Authority of Oman), CBO (Central Bank of Oman)
Regulator FSCA (Financial Sector Conduct Authority), SARB (South African Reserve Bank)
Stablecoin Rules Under development within CMSA virtual asset framework
Stablecoin Rules Crypto assets declared financial products under FAIS; stablecoins included
Key Points
  • CMA issued the Virtual Assets Regulatory Framework in 2023
  • VASP licensing regime being implemented under CMA oversight
  • No personal income or capital gains tax in Oman
  • Oman has attracted large-scale crypto mining operations leveraging its energy sector
  • CBO has issued warnings but not banned crypto for individuals
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