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Peru vs South Africa

Crypto regulation comparison

← Back to map | Peru | South Africa
Peru

Peru

South Africa

South Africa

Legal
Legal

Cryptocurrency is legal in Peru but lacks comprehensive regulation. The SBS (Superintendencia de Banca, Seguros y AFP) oversees AML requirements. Peru has growing crypto adoption, particularly for remittances. Crypto gains are subject to capital gains tax at 5% for the first 5 UIT and at higher rates for larger amounts.

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 5-30%
Tax Rate 18% (effective max ~18%)
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining No No
Regulator SBS, SMV, BCRP (Central Reserve Bank of Peru)
Regulator FSCA (Financial Sector Conduct Authority), SARB (South African Reserve Bank)
Stablecoin Rules No specific stablecoin regulation
Stablecoin Rules Crypto assets declared financial products under FAIS; stablecoins included
Key Points
  • No specific crypto legislation; general financial laws apply
  • Capital gains tax applies to crypto profits (5% for securities, up to 30% for other income)
  • SBS requires AML/KYC compliance for entities dealing in crypto
  • Growing crypto adoption for remittances and as a store of value
  • BCRP has warned about crypto risks but not imposed a ban
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