South Africa plans strict new rules for cross-border crypto transfers, targeting exchanges to combat illicit flows and strengthen oversight.
According to Finance Minister Enoch Godongwana, the South African Reserve Bank (SARB) will release the framework in 2025 after consulting with the National Treasury and the Financial Sector Conduct Authority (FSCA).
The rules will focus on crypto asset service providers (CASPs) like Binance, Luno, and VALR, setting conditions, responsibilities, and reporting requirements to close loopholes and prevent financial crimes.
The move follows a court ruling that current exchange control laws don’t apply to crypto — a decision SARB has appealed.
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