South Africa has made meaningful progress in regulating crypto asset service providers (CASPs) under the Financial Advisory and Intermediary Services (FAIS) Act. Yet, crypto assets remain outside the country’s Collective Investment Schemes (CIS) framework — a gap that limits investor offerings, creates tax inefficiencies, and often forces South Africans to seek exposure through offshore products.
On 15 September 2025, the South African Revenue Service (SARS) released the draft Crypto-Asset Reporting Framework (CARF) regulations for public comment, marking a significant step in aligning South Africa with the global push for transparency in crypto-asset transactions.
12 April 2021, South Africa: The infamous case of South Africa’s Mirror Trading International (MTI) has been crowned as the world’s largest cryptocurrency Ponzi scam. A total of around $589 million was lost, affecting hundreds and thousands of investors, according Chainanalysis’ 2020 Crypto Crime Report.
Partner Wiehann Olivier provides a clear picture of how a bitcoin transaction works in this simple, downloadable infographic. View below or download to keep on file. Should you or your organisation operating in the crypto space have any audit or consulting needs, please feel free to contact Wiehann.
The Fourth Industrial Revolution (4IR) gave rise to technologies such as artificial intelligence (AI) and blockchain that will forever change the way we live, work and do business. At Forvis Mazars, we’re stepping up to the challenge of auditing cryptocurrencies and understanding digital assets.
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