BTC $66,810.00 (-1.44%)
ETH $1,970.21 (-1.33%)
XRP $1.42 (-4.12%)
BNB $608.96 (-1.27%)
SOL $81.58 (-4.10%)
TRX $0.28 (-0.74%)
DOGE $0.10 (-2.03%)
BCH $557.16 (-1.92%)
ADA $0.27 (-2.61%)
LEO $8.64 (-0.57%)
HYPE $28.67 (-2.06%)
LINK $8.69 (-1.77%)
CC $0.16 (-2.41%)
XMR $324.08 (-2.95%)
XLM $0.16 (-3.37%)
RAIN $0.01 (-1.42%)
ZEC $263.59 (-10.24%)
HBAR $0.10 (-2.45%)
LTC $53.58 (-1.05%)
AVAX $8.90 (-1.84%)

Somalia vs South Africa

Crypto regulation comparison

Somalia

Somalia

South Africa

South Africa

No Regulation
Legal

Somalia has no specific cryptocurrency regulation. The fragmented governance structure makes unified regulation extremely difficult. Mobile money dominates the financial landscape.

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 N/A
Tax Rate 18% (effective max ~18%)
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining No No
Regulator Central Bank of Somalia
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
  • Fragmented governance limits regulatory development
  • Mobile money dominates informal financial system
  • Very limited formal financial infrastructure
  • 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