South Africa Shifts Crypto Regulation Focus to Cross-Border Transactions on May 26

According to IOL, South Africa's Finance Ministry and central bank announced on May 26 that their proposed regulatory rules will focus on cross-border crypto transactions rather than restricting asset ownership or applying rules retroactively. The authorities extended the public comment period deadline to June 30, 2026.

The government plans to release a cross-border crypto asset framework handbook defining what constitutes cross-border crypto trading and establishing obligations for authorized crypto asset service providers. South Africa already requires crypto service providers to register with the Financial Sector Conduct Authority.