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With Bitcoin’s popularity and value growing significantly, many wonder how cryptocurrencies will be treated by the South African Revenue Service (SARS) and other regulators. Bitcoin is one of hundreds of different cryptocurrencies in existence. Cryptocurrencies are unregulated, decentralised digital currencies which can be bought, sold and traded for fiat money or goods and services. According to the South African Reserve Bank (SARB), cryptocurrencies are not considered legal tender because only SARB is authorised to issue…