While the population of cryptocurrency in South Africa has soared in recent years and the past few months in particular, the South African Revenue Service (SARS) is seemingly beginning to play hardball when it comes to outstanding tax liability.
Cryptocurrency-arbitrage made its way into the mainstream in 2020 and affords South African investors a unique opportunity to accumulate quick profits from cryptocurrencies with low-risk returns. That said, while there are several operators out there, the selection of your service provider should be a thorough one for obvious reasons.
The FSCA confirms that it is aware of the concerns regarding investments made by the public in Africrypt (Pty) Ltd. and that it is continuing to investigate complaints for indications of whether or not a financial product or service was offered to the public, which would have required Africrypt to be registered with the Authority.
Bitcoin and other cryptocurrencies have experienced a major sell-off this week following China’s crackdown on the sector, but the “crypto haters” are wrong to dismiss the digital assets, according to Nigel Green, chief executive and founder of deVere Group.
Visit the official COVID-19 government website to stay informed: sacoronavirus.co.za