South Africa’s National Treasury and the South African Reserve Bank (SARB) have jointly released a draft manual covering cross-border crypto asset activity and opened it for public comment until Sept. 30, 2026. The document is intended to work alongside the previously published Draft Capital Flow Management Regulations, 2026, with the stated goal of tightening oversight of cross-border financial activity and reducing the risk of illicit fund flows tied to crypto assets. The draft sets out when a crypto transaction is treated as a cross-border capital inflow or outflow, including transfers between a locally authorized crypto asset service provider (CASP) and a foreign CASP, as well as transfers from a locally authorized CASP to an unhosted wallet. In those cases, reporting to the Financial Surveillance Department, or FinSurv, is required. At the current stage, only individuals are allowed to move crypto assets offshore through authorized CASPs within the single discretionary allowance or foreign capital allowance, while South African entities are not permitted to carry out such cross-border transactions. The draft also does not distinguish between different types of crypto assets and does not classify them as official currency in South Africa.
South Africa’s National Treasury and the South African Reserve Bank (SARB) have jointly published a Draft Manual for Cross-Border Crypto Asset Activity and opened it for public comment through Sept. 30, 2026.
The manual is designed to be implemented alongside the previously released Draft Capital Flow Management Regulations, 2026. According to the text, the aim is to strengthen oversight of cross-border financial activity and curb the risk of illicit fund flows linked to crypto assets.
Draft defines trigger points for cross-border crypto transactions
The manual says a cross-border capital inflow or outflow occurs when a crypto asset is transferred between a locally authorized crypto asset service provider (CASP) and a foreign CASP, or when it is moved from a locally authorized CASP to an unhosted wallet. In such cases, reporting to the Financial Surveillance Department, or FinSurv, is required.
Only individuals are currently allowed to move crypto offshore
At this stage, only individuals may conduct outbound crypto asset transfers through authorized CASPs, and only within the single discretionary allowance or foreign capital allowance. South African entities are not currently permitted to carry out related cross-border transactions.
Draft does not classify crypto as official currency
The manual does not distinguish between different types of crypto assets at this stage, and it does not recognize crypto assets as official currency in South Africa.
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