South African Revenue Service: Participants in cryptocurrency transactions must register compulsorily, otherwise they will be considered illegal

ChainCatcher news, according to Bloomberg, the South African Revenue Service is strengthening its regulation of participants in cryptocurrency transactions. South African Revenue Service Commissioner Edward Kieswetter stated that the agency requires all taxpayers, exchanges, and other intermediaries engaged in cryptocurrency transactions to register with the tax authorities, or they will be considered illegal. Once registered, the tax authorities will be able to track their business activities.