🇿🇦 South African Reserve Bank says cryptos are neither currency nor security
Francois E. Groepe, the deputy governor of the South African Reserve Bank (SARB) doubled down on previous comments stating that the SARB prefers the term tokens, as they do not consider cryptoassets to fall into a category of currency or security. For residents of South Africa, this means that tokens currently fall outside of both income and capital gains reporting rules.
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