SARS and National Treasury have released draft rules that explain how crypto‑asset reporting will work in South Africa. These rules are expected to start on 1 March 2026.
1. What Are These New Rules About?
The draft CARF rules mean that crypto platforms (like exchanges and wallet providers) will have to send information to SARS about their users’ crypto transactions.
This is part of a global move to improve tax transparency.
2. Who Will Need to Report?
Any crypto business that has a connection to South Africa, for example, registered here, managed from here, or operating here, will have to report to SARS once the rules become final.
3. What Information Will SARS Receive?
Crypto‑asset service providers will need to report things like:
- Who their users are
- Where they are tax‑resident
- All crypto transactions (buying, selling, transfers)
- Wallet movements
This means SARS will have a much clearer picture of taxpayers’ crypto activities.
4. What Should Businesses and Individuals Do?
Businesses (Crypto Platforms)
- Check if you fall under CARF reporting
- Start preparing systems and processes
- Update customer onboarding to collect required information
Individuals
- Keep proper records of your crypto buys, sells, and transfers
- Make sure your tax return reflects your crypto activity correctly
- Expect more checks from SARS in future
Important Reminder
These rules are still drafts, but SARS has made it clear that they plan to implement them from 1 March 2026. It’s a good idea to start preparing now.
Kind regards,
C2M Team
