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Sygnia Asset Management, a major South African investment firm with 180 bln rand ($14.5 bln) under management, has revealed that it will launch a cryptocurrency exchange later this year, BusinessTech reported May 25.
“The cryptocurrency market is evolving at a rapid pace internationally and domestically, and is attracting both domestic and international flows. With its fintech focus, Sygnia is well-positioned to become the first major financial services institution to embrace cryptocurrencies and to offer investors a secure trading and execution platform backed by an international infrastructure, well-designed custody and integration with standard savings products.” - Sygnia CEO Magda Wierzycka
Article: https://cointelegraph.com/news/145-bln-south-african-investment-firm-to-launch-crypto-exchange
South Africa have been in the crypto related news lately and with Sygnia lunching a cryptocurrency exchange later this year we are definite going to get taxed by SARS as it has stipulated crypto trading is liable to tax. More regulations are sure to follow.
