Treasury moves to bring crypto transfers inside South Africa's exchange control regime

South Africa's National Treasury confirmed it will amend the Exchange Control Regulations to govern transfers of cryptocurrency to non-residents, according to an April 2026 analysis published on Polity. Once in force, the practical effect is that crypto-to-fiat conversions and transfers to foreign parties would require SARB approval or declaration, the same treatment given to traditional currency transfers.

The move forms part of a framework assembling piece by piece across 2026, alongside FIC guidance on the Travel Rule (PCC 123), CARF data-sharing in effect from 1 March, and FSCA licensing. VASPs holding customer funds, stablecoin issuers with cross-border redemption flows, and institutional desks converting rand to digital assets all acquire reporting obligations they did not previously have.

The draft amendment text had not been published as at our coverage date. The draft Capital Flow Management Regulations followed on 17 April.