South Africa Unveils Draft Rules to Monitor Cross-Border Crypto Transactions

South Africa's National Treasury and South African Reserve Bank (SARB) have released a draft Crypto Asset Manual to regulate cross-border cryptocurrency transactions.

The framework introduces reporting requirements for transfers involving offshore platforms and private wallets, bringing digital assets into the country's broader capital flow management system.

The proposal aims to close regulatory gaps, improve financial transparency, and prevent currencies from being used to bypass South Africa's foreign exchange controls.