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Uzbekistan vs South Africa

Crypto regulation comparison

← Back to map | Uzbekistan | South Africa
Uzbekistan

Uzbekistan

South Africa

South Africa

Legal
Legal

Uzbekistan has actively regulated crypto since 2018, when it established the NAPM (initially NAPCI) to oversee virtual assets. Licensed crypto exchanges operate in a regulatory sandbox. Individual crypto trading profits are exempt from tax. Uzbekistan has also established a state-backed mining pool and licensing regime for miners, leveraging its energy resources.

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 NAPM (National Agency for Prospective Projects)
Regulator FSCA (Financial Sector Conduct Authority), SARB (South African Reserve Bank)
Stablecoin Rules Regulated under NAPM virtual asset framework
Stablecoin Rules Crypto assets declared financial products under FAIS; stablecoins included
Key Points
  • NAPM oversees virtual asset regulation and licensing
  • Licensed exchanges operate under regulatory framework since 2018
  • Individual crypto trading exempt from income tax
  • State-backed mining pool and licensing for crypto miners
  • Only licensed platforms can offer crypto services; unlicensed platforms blocked
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