South Africa Seeks Public Input on Cross-Border Crypto Rules

South Africa's National Treasury and the 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.

The proposed framework forms 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.

According to the authorities, the measures are intended to reduce opportunities for regulatory arbitrage, strengthen the Financial Surveillance Department's ability to detect illicit financial flows, and complement existing oversight already provided by the Financial Sector Conduct Authority, the Financial Intelligence Centre, and the South African Revenue Service.