Taking over the world - Criptonews

In an interview at iAfrikan, a lawyer who is in support of the first draft of the law that allows the collection of taxes on cryptocurrencies in South Africa where they talk about some advances they had so far.

Attorney Natalie Napier, when its asked the question for some highlights of the draft, mentioned an amendment on the value added tax. Ensures that no taxes will be applied "on the issuance, acquisition, collection, purchase, vernta or transfer of ownership of any cryptocurrency".

Another question asked would be the effect that the changes in the daily use of cryptocurrencies will have and that "it will be limited" and that for the moment all transactions will continue as before.

Finally, the lawyer emphasized that lawmakers take into account the "practical difficulties that can be found" by overseeing the use and transactions of cryptocurrencies. He recommends looking for solutions in countries with more advanced legal frameworks and suggests supervising the platforms and collecting all the information coming from the people who do any business with crypto currencies.