South Africa Proposes New Rules for Cross-Border Crypto Asset Transactions National Treasury & South African Reserve Bank (SARB)

South Africa’s National Treasury and the South African Reserve Bank have released a draft Crypto Assets Manual for cross-border activities for public comment, proposing clearer rules for how crypto assets can move across the country’s borders and how such transactions must be reported.

The draft manual follows the publication of the draft Capital Flow Management Regulations, 2026, in April and a joint statement from the National Treasury and SARB in May addressing concerns around crypto asset possession, trading, and cross-border transactions.

The manual is intended to complement the draft regulations and strengthen oversight of cross-border financial activity involving crypto assets.

The proposed framework aims to reduce regulatory arbitrage, strengthen monitoring of cross-border transactions, and improve the Financial Surveillance Department’s (FinSurv) ability to detect and disrupt illicit financial flows.

It will also work alongside existing oversight by the Financial Sector Conduct Authority (FSCA), Financial Intelligence Centre (FIC), and South African Revenue Service (SARS). When Crypto Transactions Become Cross-Border Under the proposed framework, a transaction would trigger cross-border reporting when crypto assets are transferred between a domestic Authorised Crypto Asset Service Provider (CASP) and an offshore CASP or transferred from a domestic Authorised CASP to a non-custodial wallet. These transactions would need to be reported to FinSurv where they result in a cross-border inflow or outflow.

At this stage, individuals would be permitted to externalize crypto assets through authorized CASPs using their Single Discretionary Allowance (SDA) or Foreign Capital Allowance (FCA).

Regulatory Approach

The SARB said it has adopted an activity-based approach, following research, testing, and assessments of the risks and benefits associated with different crypto asset activities. The proposed framework does not currently distinguish between different types of crypto assets and does not classify crypto assets as official currency in South Africa.