South Africa moves to clarify crypto regulations

The South African government and central bank are working to clarify cryptocurrency regulations, local media outlet IOL reported. In a statement on an update to the draft Capital Flow Management Regulations, the Treasury and the central bank announced an extension of the public comment period to June 30, 2026. The statement explained that the regulation is not intended to criminalize cryptocurrency holdings or be applied retroactively. Additionally, a draft manual for a cross-border crypto transaction framework will be released for public comment. The manual is expected to include definitions for cross-border crypto transactions and the obligations of officially authorized crypto service providers.