Regulations for Crypto by 2023-South African Reserve Bank (SARB)

The deputy governor of the South African Reserve Bank (SARB) has announced that cryptocurrency trading would be regulated in South Africa during the next 12 to 18 months, beginning on July 12, 2022. SARB investigations have shown non-compliance with cryptocurrency legislation, resulting in tax evasion, money laundering, and terrorist funding which is caused by decentralized cryptocurrencies.