The South African Revenue Service (SARS) has announced plans to include crypto assets in its tax compliance programs. SARS is seeking information on crypto users and is increasing its efforts to identify and audit non-compliant taxpayers. The revenue collector urged taxpayers concerned about compliance to participate in the Voluntary Disclosure Program, but those already under…
At 11:40 a.m. EDT on Thursday, bitcoin (BTC) surpassed the $65,000 mark. After the latest climb, the current trading price per BTC stands at $65,430 per coin. Bitcoin Peaks Above $65K Bitcoin (BTC) has enjoyed a rise today, reaching $65,499 during the morning trading hours. Of the day’s total crypto trade volume of $95.27 billion,…
The South African government is tightening its grip on cryptocurrency trading. Tax authorities (SARS) are issuing tax notices and clarifying regulations, likely using AI to identify non-compliant traders. The central bank meanwhile has clarified rules for crypto purchases, allowing individuals limited investment but restricting companies. SARS Using AI to Track Down Tax Dodgers South African…
US President Joe Biden is focusing on crypto investors and stated that he will not support any deal that shields wealthy tax evaders and crypto traders. During the G7 summit, President Joe Biden mentioned that prior to his departure, he had discussions with all four congressional leaders. They reached a consensus that the only viable…