Bitcoin Archives - B2B Central

Sunshine golf tour to offer prize money in Bitcoin

By Staff Writer

The top three golf professionals on the leaderboard at the end of the 2022 Sunshine Tour will receive substantial prizes in Bitcoin.

21 Feb 2022

Beginners guide to crypto investing

By Staff Writer

Cryptocurrency, or more generally tokens, are forms of digital assets that circulate without requiring a centralised monetary authority such as a bank.

17 Aug 2021

SA takes on non-compliance in the crypto tax space

By Staff Writer

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.

27 Jul 2021

Crypto is no gold

By Staff Writer

Bitcoin and a slew of other cryptocurrencies are gaining traction as alternatives to fiat currencies as mediums of exchange. William Fraser, portfolio manager at Foord Asset Management, asks whether they might also challenge gold as the ultimate store of value.

24 Jun 2021

FSCA "aware of concerns" around Africrypt

By Staff Writer

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.

23 Jun 2021

Bitcoin bashers and crypto cynics are wrong, says deVere Group

By Staff Writer

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.

11 Jun 2021

Crypto assets to be brought into South African regulatory purview

By Staff Writer

The Intergovernmental Fintech Working Group (IFWG) has today, through the Crypto Assets Regulatory Working Group (CAR WG), published a position paper on crypto assets. The paper confirms that crypto assets will be brought into the South African regulatory purview in a phased and structured manner.

09 Jun 2021

Why SARS should be more clear on tax compliance for cryptocurrencies

By Staff Writer

It has been more than three years since SARS’s media statement on cryptocurrencies. In this statement, SARS said that it would apply “normal income tax rules” to cryptocurrencies when assessing whether a gain is revenue or capital in nature, and that crypto assets are not seen as currency for income tax purposes.

10 May 2021

Cryptocurrencies: Are you aware of the tax implications?

By Staff Writer

Along with the rest of the world, South Africans have shown an appetite for cryptocurrencies. While the size of the market remains unclear, Coinmarketcap gives a figure of $210 billion for the global market, and approximately R6.5 billion for the South African market.

03 May 2021

How to buy and store digital currencies

By Staff Writer

There are many marketplaces called “bitcoin exchanges” that allow people to buy or sell Bitcoins using different fiat and cryptocurrencies via mobile apps. These exchanges are more relevant for individual or retail investors purchasing up to R1m wort of digital assets. Bitstamp, Coinbase and Kraken are leading global exchanges while Luno and Valr are the two leading South African based bitcoin exchanges.

03 May 2021

Blockchains and bitcoins - a wealth manager’s perspective

By Staff Writer

We have seen a big uptick in the hype surrounding bitcoin, driven largely by the massive return numbers reported. Recent Bloomberg research contrasted the rise in bitcoin with market bubbles, like the tech market crash in the late nineties. But there is almost no comparison. Tech stocks rose just over 1,000% over the entire course of their bubble, and bitcoin is already up by almost 17,000%.

26 Apr 2021

Crypto investment opportunities for individuals and corporations

By Staff Writer

It’s important to acknowledge the lack of regulation for cryptocurrencies around the world and that investment opportunities have thus far been limited to retail investors, i.e. the general public. As this asset class has become more popular over recent years, so too has access to global trading platforms through easy-to-use mobile apps, which are widely available.