South Africa Plans to Clarify Regulatory Framework for Cross-Border Cryptocurrency Transactions, Emphasizing No Restrictions on Holding

South Africa’s National Treasury and the South African Reserve Bank (SARB) stated that they are shifting their regulatory focus on crypto assets toward rules governing cross-border digital asset activities, rather than restricting ownership per se, and have extended the public comment period for the draft “Regulations on Capital Flows” to 30 June 2026. Both entities clarified that the proposed regulations do not intend to criminalize crypto asset ownership nor will they be applied retroactively. A draft handbook outlining the cross-border crypto asset framework will follow, specifying the definition of cross-border crypto transactions and the obligations of authorized crypto asset service providers.