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Paraguay vs South Africa

Crypto regulation comparison

← Back to map | Paraguay | South Africa
Paraguay

Paraguay

South Africa

South Africa

Legal
Legal

Paraguay has no specific comprehensive crypto law. President Abdo vetoed a crypto regulation bill in 2022. The BCP does not recognize crypto as legal tender. VASPs must register with SEPRELAD for AML compliance since 2020. Paraguay is a significant crypto mining hub due to cheap hydroelectric power from the Itaipu Dam, though bills to restrict mining due to energy theft have been debated.

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 Income
Tax Type Capital gains
Tax Rate 8-10%
Tax Rate 18% (effective max ~18%)
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining No No
Regulator BCP (Banco Central del Paraguay), SEPRELAD
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 comprehensive crypto law enacted; 2022 bill was vetoed by President Abdo
  • Major crypto mining hub thanks to cheap hydroelectric power (Itaipu Dam)
  • VASPs must register with SEPRELAD (anti-money laundering secretariat)
  • Income from crypto activities subject to 8-10% tax rates
  • ANDE (national electricity authority) regulates power consumption for mining operations
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