SARS Releases Draft Crypto-Asset Reporting Framework

  • Aligning South Africa with OECD Standards on Crypto-Asset Reporting

Published: October 2025

SARS has released the draft Crypto-Asset Reporting Framework (CARF) Regulations for public comment, along with updates to the Revised Common Reporting Standard (CRS). These measures aim to align South Africa with international reporting standards and strengthen oversight of crypto transactions.

What CARF Does:

CARF aligns South Africa with the OECD’s reporting framework, allowing crypto-asset data to be automatically reported and exchanged across jurisdictions. 

Who Must Report:

According to the draft, Reporting Crypto-Asset Service Providers (CASPs) with a South African connection must comply. This includes entities with:

  • Residence in South Africa
  • Incorporation or management in South Africa
  • A regular place of business in South Africa

What Must Be Reported:

 CASPs may be required to provide:

  • Customer identity data (including Tax Identification Numbers where applicable)
  • Aggregated transaction details, such as:
    • Fiat buys and sells
    • Crypto-to-crypto exchanges
    • Retail payments
    • Transfers, including to-addresses not linked to a financial institution
  • All amounts reported in South African Rand (ZAR) with consistent valuation

Practical Next Steps for Businesses:

  • Map data models to CARF fields
  • Validate onboarding and wallet-transfer controls
  • Run dry reporting in ZAR with consistent valuation

Key Insights for Crypto Traders:

  • SARS surveillance is tightening, trades are no longer hidden
  • AI and exchange data mean faster detection of undeclared gains
  • Offshore holdings will be exposed through cross-border sharing
  • Keeping complete records is essential
  • Voluntary Disclosure Programme (VDP) is the safest step before an audit

Key Insights for Business and Compliance Leaders:

  • Transparency is the new baseline
  • Compliance builds trust and credibility
  • Data discipline is strategy, not just administration
  • Local compliance is now tied to global standards
  • Good governance goes beyond minimum requirements

Closing Thoughts:

South Africa’s draft CARF regulations are a clear signal: crypto activity is entering a phase of full visibility and accountability. Businesses that prepare now will avoid compliance shocks and strengthen their position as trusted market leaders.

Disclaimer: We are not tax specialists. 

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