Bitcoin and the Law – Is It Legal, What About Tax, and Can You Leave it to Your Heirs?

KVV Inc Attorneys

Published on: 04/03/2025

Cryptocurrencies like Bitcoin and Ethereum are legal in South Africa, but their legal status is evolving. While the Reserve Bank acknowledges their use as a medium of exchange, they are not legal tender. SARS treats cryptocurrencies as intangible assets for income tax and Capital Gains Tax, requiring taxpayers to declare gains and losses.