The consultation concludes on 3 October 2025.

South Africa’s National Treasury and the South African Revenue Service (SARS) introduced draft regulations on 15 September 12025, aimed at enhancing the country’s approach to cryptoasset oversight and financial reporting.

SARS also opened a public consultation regarding the draft rules, which closes on 3 October 2025. Comments can be emailed to ACollins@sars.gov.za.

These proposals align with the OECD’s Crypto-Asset Reporting Framework (CARF) and include updates to South Africa’s Common Reporting Standard (CRS).

The changes aim to expand the scope of reporting to include electronic money products, central bank digital currencies, and indirect cryptoasset investments made through derivatives and investment vehicles.

The Draft CARF Regulations contain the Crypto-Asset Reporting Framework (CARF) as approved by the OECD’s Committee on Fiscal Affairs over the course of 2022/2023.

The CARF was adopted as part of a comprehensive review of the Standard for Automatic Exchange of Financial Account Information in Tax Matters. This Standard, initially developed in response to a G20 request, was embodied in the OECD Recommendation on the Standard for Automatic Exchange of Financial Account Information in Tax Matters and adopted by the OECD Council on 15 July 2014 and calls on jurisdictions to obtain information from their financial institutions and automatically exchange that information with other jurisdictions annually.

The Standard for Automatic Exchange of Financial Account Information in Tax Matters

encompasses the “Common Reporting Standard” (CRS). The Standard, initially developed in response to a G20 request, was embodied in the OECD Recommendation on the Standard for Automatic Exchange of Financial Account Information in Tax Matters, adopted by the OECD Council on 15 July 2014 and calls on jurisdictions to obtain information from their financial institutions and automatically exchange that information with other jurisdictions annually

If approved, these regulations are set to take effect on 1 March 2026.