CRYPTO ASSET CROSS-BORDER ACTIVITIES: INPUT SOUGHT ON DRAFT MANUAL

National Treasury has called for public comments by 30 September 2026 on a draft manual for cross-border crypto transaction asset management. This follows:

  • the April 2026 release of draft regulations on cross-border capital flow management (on which SA Legal Academy reported at the time), and
  • a May 2026 press release among other things seeking to address concerns about ‘the future treatment of crypto assets’.

According to a media statement accompanying the draft manual, in the context of cross-border crypto asset transactions its intention is to provide ‘practical guidance’ on the envisaged implementation of secondary legislation once finalised. To that end, the draft manual focuses on:

  • the application and adjudication processes entailed in conducting the business of an authorised crypto asset service provider
  • cross-border crypto asset transaction authorisation and related administrative responsibilities, and
  • foreign exchange transaction reporting requirements using the South African Reserve Bank’s (SARB’s) FinSurv electronic platform.

The statement also:

  • draws attention to the importance of reading the draft manual with the proposed new regulations, and
  • notes that the draft manual:
    • does not distinguish between different types of crypto assets
    • should not be construed as being indicative of a move towards declaring crypto assets ‘an official currency in South Africa’, and
    • does not reflect input received on the draft regulations.

Both documents ‘remain subject to refinement following the consideration of all public comments and stakeholder engagements’, as well as the outcome of ongoing research.

Published by SA Legal Academy Policy Watch

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