RE: South African Revenue Service Develops Strong Appetite For Crypto Taxation

Yes you’re correct in how THEY assume blockchain works but in practice going to extract all that data is not worth your time nor there’s! The vast majority of crypto tax will still be cashing out into fiat of which there will be plenty for them to get a piece of

They are working with all the local exchanges and banks to track those on ramps and off ramps but once you hit chains or go off that chain it’s a different story

This is why I don’t trade I buy and hodl you can’t tax me on appreciation if I didn’t sell!