Crypto South Africa Is Now Taxing Crypto Holders And Making Crypto Policies Stricter

[Good-Guy]

We all know that many world governments are never happy with crypto. They view crypto as something that is bad and this leads to a complete ban on the usage of cryptocurrencies and crypto-related activities such as mining forking, staking, trading, crypto holding, etc. Some countries do not ban the cryptocurrencies, but place many restrictions on crypto usage by trying to regulate it and tax it. It seems South Africa is one of those countries where they are making some strict policies to regulate cryptocurrencies. Recently, the South African government has placed some conditions on crypto holding and they have stated that the crypto holders will be liable to pay taxes on crypto for up to 45 percent. I am not sure if this means that they have raised the crypto tax up to 45 percent on all crypto assets or if it means something else. How do you think this will affect the crypto traders in South Africa?

 

[Alexandoy]

Is that 45% tax on the crypto coin holdings a straight tax? That is onerous as if the government is banning the holding of crypto coin. But anyway, when a tax is levied on the crypto holdings the investors would try to find an escape on the imposed taxes. Let us wait and see what happens next when the trading would leave South Africa.