How to stay within the law and buy Bitcoin in South Africa

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Jun 28, 2017
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#1
How to stay within the law and buy Bitcoin in South Africa

The South African Reserve Bank recently issued guidance regarding its position on the purchase and transfer of cryptocurrencies.

The SARB does not regulate the exchange of cryptocurrencies in South Africa, but moving cryptocurrency overseas and buying or selling on a foreign exchange could get you into trouble with exchange control regulations.
 

saor

Honorary Master
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Feb 3, 2012
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#2
The only permissible way for South Africans to purchase cryptocurrencies from abroad is to use their single discretionary allowance of R1 million or individual foreign investment allowance of R10 million per year.
So just stick to these limits and you're fine basically?

Is this the sum total of what Leon Rood said or is it going to be dispensed over 3 different articles?
 
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