South Africa plans to clarify the regulatory framework for cross-border crypto asset transactions, emphasizing no restrictions on holding crypto assets.
ChainCatcher reports that South Africa's National Treasury and the South African Reserve Bank (SARB) stated that they are shifting the focus of crypto asset regulation to rules governing cross-border digital asset activities, rather than restricting ownership itself. They have also extended the deadline for public comments on the draft Capital Flow Management Regulations to June 30, 2026. Both parties clarified that the proposed rules are not intended to make crypto asset ownership unlawful, nor will they be applied retroactively. A manual for the draft framework of cross-border crypto assets will be released in the future, specifying the definition of cross-border crypto transactions and obligations for authorized crypto asset service providers.
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