**[South African Revenue Service Issues Crypto Asset Taxation Guidelines, Approximately 6 Million Users Face Audits]** Odaily Planet Daily News – The South African Revenue Service (SARS) released a draft of its crypto asset taxation guidelines on July 1, 2026, aiming to establish compliance rules for approximately 5.8 to 6 million South African cryptocurrency users. The public consultation period for the draft will remain open until August 31, 2026. According to the updated framework, crypto assets are classified as intangible assets and are not considered foreign or traditional currency. Taxpayers are not required to pay taxes on unrealized gains or losses during the mere holding of assets. Tax obligations are triggered upon the disposal of assets. If an individual's crypto activities are deemed similar to business operations or short-term day trading, profits will be classified as gross income and taxed at a marginal rate of 18% to 45%. If crypto assets are held as long-term investments, disposal gains will be subject to capital gains tax, with an effective individual tax rate ranging from 18% to 36%. The draft also treats the exchange of crypto assets as barter transactions, with tax consequences arising immediately based on the local market value at the time of exchange. SARS stated that it has deployed a Crypto Revenue Augmentation Unit to track and audit digital wallets and urged taxpayers who have previously failed to disclose crypto earnings to complete their declarations through the voluntary disclosure program to avoid administrative penalties that may result from stricter enforcement after the August deadline. (Source: (Bitcoin.com) News).