South Africa Seeks Public Input on Cross-Border Crypto Asset Regulations

The National Treasury and the South African Reserve Bank (SARB) are seeking public comments on a draft manual for cross-border crypto asset activities. This comes after the publication of the draft Capital Flow Management Regulations, 2026, which aims to strengthen oversight of cross-border financial activities.

The proposed regulatory measures aim to minimize the risk of regulatory arbitrage between regulated entities conducting cross-border activities and enhance the ability of the Financial Surveillance Department (FinSurv) to detect, deter, and disrupt illicit financial flows. The manual provides practical guidance on implementing these regulations, including details on related administrative responsibilities and reporting requirements.

The SARB has adopted an activity-based approach in regulating crypto assets, focusing on cross-border transactions rather than distinguishing between different types of assets or declaring them an official currency. The draft Manual is subject to refinement following consideration of public comments and stakeholder engagements.