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Tanzania vs South Africa

Crypto regulation comparison

← Back to map | Tanzania | South Africa
Tanzania

Tanzania

South Africa

South Africa

Partially Regulated
Legal

Tanzania's regulatory stance on crypto is evolving. The Bank of Tanzania warned against crypto in 2019, but the 2024 Finance Act introduced a 3% withholding tax on digital asset transactions — Tanzania's first legal recognition of crypto. A December 2024 High Court ruling held that taxed crypto transactions cannot be deemed unlawful. No comprehensive regulatory framework exists yet.

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 3% withholding tax
Tax Rate 18% (effective max ~18%)
Exchanges Yes Yes
Exchanges Yes Yes
Mining No No
Mining No No
Regulator Bank of Tanzania
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
  • Bank of Tanzania warned against crypto trading in 2019 public notice
  • Finance Act 2024 introduced 3% withholding tax on digital asset transactions
  • December 2024 High Court ruled taxed crypto transactions are not unlawful
  • An estimated 2.3 million Tanzanians own cryptocurrency
  • Bank of Tanzania exploring central bank digital currency (CBDC)
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