Woofun AI reports that the South African Revenue Service published draft crypto taxation guidelines on July 1, 2026, targeting approximately 6 million users. The framework defines crypto assets as intangible property, excluding them from foreign currency classification. Tax liabilities trigger only upon asset disposal, not on unrealized gains. If activities resemble business operations or day trading, profits face marginal tax rates between 18% and 45%. Long-term investment gains are subject to capital gains tax with effective rates of 18% to 36%. Swapping different cryptocurrencies is treated as a barter transaction, incurring immediate tax based on local market value. SARS has established a Crypto Revenue Augmentation Unit to audit digital wallets. Taxpayers are urged to utilize the voluntary disclosure program before the August 31, 2026 comment period ends to avoid penalties under stricter enforcement.