South African Revenue Service Cracks Down on Crypto Tax Defaulters

The South African Revenue Service (SARS) is taking a more aggressive stance on cryptocurrency tax compliance, warning individuals and businesses involved in crypto transactions to register with the agency. This move follows a recent interview by SARS Commissioner Edward Kieswetter, who emphasized that failing to register is now against the law. The commissioner explained that registration allows SARS to track these entities’ activities and identify potential violations of tax laws.