Bitcoin jumped on Friday, rising in a matter of minutes to its biggest daily gain since July, and other digital currencies surged in a shock rally.
Bitcoin and US stocks are moving increasingly in lockstep as investor anxiety builds ahead of this week’s Federal Reserve meeting.
South Africa is moving with more urgency to stiffen oversight of cryptocurrency assets after a proliferation of scams.
Bitcoin pushed higher Monday as proponents took encouragement at its failure to breach the closely watched $30 000 support level over the weekend.
The only reasonable course of action is to be proactive, and those taxpayers who are at risk of being “found out” should take the cue and rectify their affairs before it is too late. By Thomas Lobban.
South Africa’s three largest cryptocurrency exchanges say they have been approached by the South African Revenue Service as part of a tax risk assessment exercise on residents.
A Financial Sector Conduct Authority health warning on cryptos comes amid a flood of complaints from investors who lost money or were scammed, says head of enforcement at the regulatory body, Brandon Topham.
As major financial hubs like Singapore redraw legislation to lure crypto firms, South Africa’s burgeoning exchanges say they are having to move headquarters abroad due to uncertainty over potential government regulation.
Bitcoin’s price could exceed $50 000 over the longer term as the digital asset vies with gold for investment flows, according to cryptocurrency exchange Luno and brokerage OSL.
As bitcoin begins testing levels last seen at the peak of the end-of-2017 bubble, South Africa has yet another cryptocurrency exchange in an increasingly crowded market.