In short: You can buy, sell and hold crypto assets in South Africa, but they are not legal tender: the Reserve Bank does not recognise them as currency. The Financial Sector Conduct Authority (FSCA) licenses crypto asset service providers (CASPs) that give advice, intermediary or investment-management services under the FAIS Act. As at 31 March 2026, the FSCA reported 310 approved CASP licence applications (533 received; 17 declined). Always check the live FSCA list before you use a platform. SARS says normal tax rules apply. Declare gains or losses. Not financial advice.
Sources: FSCA (April 2026 CASP licensing update); SARS Crypto Assets & Tax.
Legal status
The FSCA’s April 2026 update states that its licensing covers financial services related to crypto assets under FAIS (advice, intermediary and investment management). That does not make crypto a form of legal tender or “cryptocurrency” as money. The South African Reserve Bank does not currently recognise crypto assets as currency.
Who needs an FSCA CASP licence?
Anyone who, as a regular feature of business, renders financial services in respect of crypto assets generally needs to be an authorised financial services provider (or a representative of one) under FAIS. Unlicensed CASP activity can attract FSCA enforcement. The April 2026 update said the Authority had initiated 81 investigations into potential unlicensed CASP businesses.
Licensing numbers (31 March 2026)
- 533 CASP licence applications received
- 310 approved
- 17 declined
- 124 voluntarily withdrawn
- Remainder still under consideration
Older “248 licensed (Dec 2024)” figures are outdated. Counts change. Use the FSCA’s current published list / FSP search, not a blog table of exchange names.
How to check a provider
- Search the authorised FSP register on the FSCA site
- Confirm the provider is licensed for the crypto / CASP activity you need
- Treat “guaranteed returns”, pressure to deposit via crypto ATM, or Telegram “account managers” as red flags. Check FSCA warnings too
FSP search: FSCA Search Authorised and Applied FSPs.
Tax (SARS)
SARS treats crypto assets under normal income-tax rules. Gains or losses may be revenue or capital depending on the facts. You must declare crypto-related taxable income in the year it is received or accrued. Failure can attract interest and penalties. See SARS’s Crypto Assets & Tax page (and any current SARS guide) rather than tax brackets quoted on blogs.
Keep in mind
- Old “best exchange” lists and licensed-exchange tables go out of date; use the FSCA’s current list
- Confirm AML transfer thresholds and fees with your exchange
- This is general information, not tax or investment advice
Last checked: September 2026 against the FSCA 15 April 2026 CASP licensing update and SARS crypto tax pages. Confirm on FSCA and SARS. Not financial advice.