<ul><li>The South African Revenue Service (SARS) has called for taxpayers to declare their digital currencies and other crypto assets through its Voluntary Disclosure Programme (VDP).</li><li>South Africa is experiencing significant growth in crypto-related transactions, with around 5.8 million locals holding cryptos and engaging in Bitcoin transactions.</li><li>SARS is taking measures to promote compliance by urging traders and holders to disclose all income assets, including digital currencies.</li><li>Non-compliance with the new policy may result in consequences, as SARS and the Financial Sector Conduct Authority (FSCA) aim to pursue individuals and firms that fail to report their transactions.</li></ul>

South African Revenue Service Cracks Down On Crypto With New Tax Rules

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