South African Revenue Service: Cryptocurrency asset trading participants must register compulsorily, otherwise they will be considered illegal

South African Revenue Service is strengthening its regulation of participants in cryptocurrency trading. Edward Kieswetter, Commissioner of the South African Revenue Service, stated that the agency requires all taxpayers, exchanges, and other intermediaries involved in cryptocurrency trading to register with the tax department, otherwise they will be considered illegal. Once registered, the tax department will be able to track their business activities.