South Africa Seeks Public Input on Cross-Border Crypto Rules
The National Treasury and South African Reserve Bank (SARB) have invited public comments on a draft Crypto Assets Manual that outlines how cross-border crypto asset transactions will be regulated in South Africa.
The proposed framework is part of broader efforts to strengthen oversight of international financial flows, improve transparency, and reduce the risks associated with digital assets moving across national borders.
The draft Manual builds on new financial rules, including the proposed Capital Flow Management Regulations 2026, which were published earlier this year for public consultation.
A transaction will be regarded as cross-border under the proposed regulations when crypto assets move between a domestic Authorised Crypto Asset Service Provider (CASP) and an offshore CASP, or when they are transferred from a domestic Authorised CASP to a non-custodial wallet, creating either an inflow or outflow that must be reported to the Financial Surveillance Department.
The proposed framework follows an activity-based approach developed through research, testing, and risk assessments. It does not distinguish between different categories of crypto assets nor recognise cryptocurrencies as official legal tender in South Africa.