South Africa Proposes Including Crypto Assets in Foreign Exchange Control Framework

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On April 24, the South African National Treasury released the draft ‘2026 Capital Flow Management Regulations’ for public consultation. The draft proposes to incorporate crypto assets into the foreign exchange control framework to address related risks and enhance regulation of emerging financial instruments. It also aims to align the foreign exchange control framework with recommendations for combating money laundering, terrorist financing, and illegal capital flows, while further clarifying exemptions, licensing, and applicable conditions, and imposing administrative penalties for violations of the regulations.

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