By taking the initiative to regulate the cryptocurrency industry, the South African government shows its dedication to creating a secure and welcoming space for new ideas. With the right knowledge of the risks involved, how taxes work, and how rules are always changing, you can comfortably navigate the world of Bitcoin in South Africa. The inclusion of standards for “a digital representation of value” in this rule makes cryptocurrency a financial product that must comply with the FAIS (Financial Advisory and Intermediary Services Act). The FAIS must authorize the operation of all crypto service providers.