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.
Cryptocurrency
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.
Building South Africa’s digital financial rails
The emergence of tokenised assets raises the question whether SA can develop trusted local infrastructure rather than rely on systems built elsewhere.
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.
Stricter reporting obligations for crypto-asset transactions
From 1 March, new frameworks will impose expanded due diligence and information-exchange obligations on exchanges, custodians and banks.
Absa partners with Ripple to offer cryptocurrency custody services in SA
The partnership positions Absa among South African banks exploring blockchain infrastructure, offering secure custody for cryptocurrencies.
No blanket exchange control exemption for cryptocurrencies
The SARB will publish targeted frameworks to govern cross-border crypto flows and CASP reporting, says the Minister of Finance.
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.
Under-reported crypto income may lead to tax assessments on past profits
With SARS tightening crypto enforcement, taxpayers should review their past filings, ensure accurate reporting of crypto profits, and consider the Voluntary Disclosure Programme to avoid severe penalties and interest.
MTI liquidation: a global effort to recover crypto funds from a Ponzi scheme
Leveraging the Model Law on Cross-Border Insolvency, the liquidators co-ordinated with courts in the US, UK, and Australia, setting a precedent for future international crypto claims.
Pensioner claims cryptocurrency trader could have stopped fraud
The High Court hears details of an elaborate fraud in which scammers cleaned out a bank account and bought cryptocurrency from a part-time trader.
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.
Sam Bankman-Fried gets 25 years’ imprisonment for FTX fraud
The judge criticised Bankman-Fried for his lack of remorse and stated that he knew his actions were criminal.
