As noted in our recent newsflash, National Treasury has published the draft Capital Flow Management Regulations, 2026 (“Draft Regulations”) for public comment. The Draft Regulations are intended to replace the Exchange Control Regulations, 1961 and, importantly, propose to bring crypto assets expressly within South Africa’s exchange control framework, supplementing existing oversight by the Financial Sector Conduct Authority (“FSCA”) and the Financial Intelligence Centre (“FIC”).
This is a significant shift from the current position, as discussed in a prior article. It is, however, not unexpected. This development is consistent with the broader regulatory direction in South Africa towards increased oversight of crypto assets, which we have also addressed previously in this article.
