Digital assets: three questions advisers need to be asking
Who can advise on digital assets, where can clients move them, and what can SARS see? A practical look at the questions advisers need to understand.
Bitcoin
The South African client is becoming increasingly global
International mobility and digital assets are adding new layers of complexity to how advisers approach residence, wealth structuring, and succession planning.
Crypto transactions and undeclared holdings face growing scrutiny
Experts say taxpayers with undeclared crypto income should consider voluntary disclosure before enhanced reporting increases the likelihood of a SARS audit.
Your crypto could be lost when you die – even if it’s in your will
Estate planning for digital assets must address a critical practical problem: ensuring executors can find and access them without compromising security during your lifetime.
Judgment adds to uncertainty over crypto’s exchange control status
The High Court backs the SARB’s position that moving Bitcoin to foreign exchanges can amount to an unlawful export of capital.
Why I turned bullish on Bitcoin and bombed-out AI hyperscalers
Ryk de Klerk links Bitcoin’s slump and hyperscalers’ pain to a jump in Big Tech bond spreads, arguing the market has priced in heavy capex and financing needs.
SARB adds crypto and stablecoins to new financial-stability risk category
Top domestic Bitcoin wallets moved nearly R63bn offshore since 2019, spurring the SARB and Treasury to develop a cross-border crypto transaction framework.
New Sygnia fund offers crypto exposure in a life insurance structure
The Life Bitcoin Plus Fund uses a ‘portable alpha’ strategy to generate returns beyond the performance of the iShares Bitcoin Trust ETF.
High Court ruling on crypto exchange control suspended pending appeal
Until the appeal is resolved, the operation of the exchange control rules remains unchanged, and market participants should err on the side of compliance.
Cryptocurrencies outside Exchange Control Regulations, court rules
Legal experts anticipate a legislative response to plug the loophole and safeguard against large‐scale capital flight via digital assets.
Bitcoin adoption: increasingly part of my investment portfolio
Net cumulative purchases via pure Bitcoin ETFs have surged 2.5-fold since mid-March. This influx underscores growing institutional conviction in Bitcoin as a core portfolio allocation.
Hawks investigating reported death of MTI founder Johann Steynberg
Brazilian reports spark speculation as South African authorities probe the circumstances surrounding Steynberg’s alleged death.
High Court upholds joint liquidators’ role in MTI winding-up
The High Court ordered the applicants to pay punitive costs, saying their allegations were spurious and damaged the joint liquidators’ reputations.
Bitcoin’s price discovery justifies a core holding
The primary supply of Bitcoin is running dry, and the secondary supply is limited.
Global recognition for MTI joint liquidators’ statutory powers grows
The creditors’ list in the Ponzi scheme stands at 8 550 as the joint liquidators prepare to submit the second liquidation and distribution account to the Master of the High Court.
US court orders SA ‘multilevel marketing scam’ to pay R32bn to victims
The order against MTI is in addition to the R65bn in penalties imposed on founder and CEO Johann Steynberg earlier this year.
Why I (want to) own Bitcoin
It appears that virtually most excesses, including malfeasance and possible manipulation of the Bitcoin market from December 2020 to June 2022, have been dealt with.
