South African lawmakers propose draft rules on cross-border crypto transactions

South African lawmakers propose draft rules on cross-border crypto transactions

Policy

South African lawmakers propose draft rules on cross-border crypto transactions

A draft rulebook proposes that sending crypto offshore must be conducted through an authorized provider and be reported to the central bank’s FinSurv.

By

Jamie Crawley

|

Edited by

Omkar Godbole

Aug 4, 2026, 10:59 a.m.

1

min read

Make

preferred on

Share

Share this article

Copy link

X icon

X (Twitter)

LinkedIn

Facebook

Email

Make

preferred on

Pretoria, South Africa (Kyle-Philip Coulson/Unsplash)

Summary

Show

South Africa’s National Treasury and the South African Reserve Bank are moving towards regulating the use of cryptocurrency for cross-border transactions.

A draft rulebook proposes that sending crypto offshore must be conducted through an authorized provider and be reported to the central bank’s Financial Surveillance Department.

The two bodies have invited comments from interested parties with a deadline for submission of Sept. 30.

South Africa’s Treasury and central bank are moving towards regulating the use of cryptocurrency for cross-border transactions.

The National Treasury and the South African Reserve Bank (SARB)

released a draft rulebook on Monday that proposes that sending crypto offshore

must be conducted through an authorized provider and reported to the central bank’s Financial Surveillance Department (FinSurv).

“The proposed regulatory measures seek to minimize the risk of regulatory arbitrage between regulated entities conducting cross-border activities, and to enhance the ability of the Financial Surveillance Department (FinSurv) to detect, deter and disrupt illicit financial flows,” Treasury and the Reserve Bank said in a joint statement.

The framework would not make crypto legal tender, nor do the rules distinguish between different digital assets.

The two bodies have invited comments from interested parties with a deadline for submission of Sept. 30.

The proposed rules build on previous National Treasury

draft regulations issued in April

, which would require crypto holders to declare assets above a certain threshold and hand over private keys to enforcement officers on demand.

South Africa’s push to regulate crypto comes against the backdrop of a rapid global shift toward enforceable, cross‑border frameworks. Across jurisdictions, authorities have been tasked with protecting consumers and safeguarding financial systems, often while still supporting innovation. The result is a global patchwork of policies.

South Korea

Latest Crypto News

1

The bitcoin market has plenty of reasons to freak out, yet calm pervades

22 minutes ago

2

Bitcoin rises toward $64,000 as Coldcard exploit, Strategy sales recede. ADA advances

54 minutes ago

3

BlackRock debuts tokenized access to $311 billion of money market funds in Europe

1 hour ago

4

First U.S. spot bitcoin ETF to close as inflows dwindle, investors chase AI returns

1 hour ago

5

Live updates: Bitcoin at $63,600 as rare US-Japan yen action tests carry-trade fears

3 hours ago

6

Bhutan's GMC puts part of its bitcoin treasury to work after 10,000 BTC pledge

3 hours ago

7

Why Jim Cramer’s quantum panic isn’t rattling bitcoin as price holds steady around $64,000

3 hours ago

8

XRP holders can now borrow RLUSD on Ethereum through $280 million lending pool

5 hours ago

9

A new Solana proposal aims to ramp up daily SOL Burns from $47,000 to $650,000

6 hours ago

10

Bitcoin nears $64,000 as traders look past Strategy's BTC sales and Coldcard sweeps

6 hours ago

Latest Research

The Evolution of the Crypto CEX Landscape: A Case Study on Binance

The Evolution of the Crypto CEX Landscape: A Case Study on Binance

Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.

By

CoinDesk Research

Jun 29, 2026

Commissioned by

Binance

Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.

Why it matters

:

Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.

View Full Report

More From

Policy

U.S. FBI intelligence agent arrested in connection with theft of $1 million in crypto

Bernstein sees another leg lower for crypto markets if Clarity Act stalls

Bitget set to exit Japan, close all remaining positions by year-end

Crypto

CD20

$1,744.01

CD20 up 1.29 percent

1.29%

BTC

$63,796.76

BTC up 2.11 percent

2.11%

ETH

$1,870.39

ETH up 1.79 percent

1.79%

XRP

$1.07

XRP up 1.09 percent

1.09%

SOL

$73.73

SOL up 1.89 percent

1.89%