The South African government and central bank are pushing to clarify cryptocurrency regulations, local media outlet IOL reported. The National Treasury and the South African Reserve Bank announced in an updated statement on the Draft Capital Flow Management Regulations that the deadline for public comment submissions has been extended to June 30, 2026. The regulations are not intended to deem cryptocurrency holdings illegal or to be applied retroactively, they explained. Additionally, a draft manual for the cross-border cryptocurrency transaction framework will be released for public comment. The manual is expected to include definitions for cross-border cryptocurrency transactions and the obligations of officially approved cryptocurrency service providers.
