South Africa to Oversee International Crypto Transfers Under New Rules

South Africa plans to introduce a new regulatory framework later this year focused on cross-border cryptocurrency transfers, according to Finance Minister Enoch Godongwana.

Developed by the South African Reserve Bank in collaboration with the National Treasury and Financial Sector Conduct Authority, the framework will set parameters, conditions, and reporting requirements for crypto asset service providers handling value transfers in and out of the country.

The move aims to curb illicit financial flows, prevent regulatory arbitrage, and strengthen exchange control laws while addressing the growing risks in the crypto market.

Clever Robot News Desk 16^th August 2025