South Africa’s Cross-Border Crypto Ban Proposal Sparks Backlash

South Africa’s cross-border crypto ban proposal sparks backlash

The NewsSouth Africa proposed a ban on corporate cross-border stablecoin transactions, setting up a clash with a generation of tech entrepreneurs who say the restrictions will hurt trade, push volumes into unregulated channels, and isolate the country from global capital pools.The draft rules, released jointly by the South African Reserve Bank and National Treasury, mark one of the most aggressive attempts by an emerging economy to force borderl…

Draft manual sets out proposed cross-border crypto regime – Moonstone Information Refinery

National Treasury and the South African Reserve Bank have published the draft Crypto Asset Manual for cross-border activities for public comment, proposing how South African crypto asset service providers (CASPs) would be authorised to facilitate cross-border crypto asset transactions under the draft Capital Flow Management Regulations. The publication fulfils a commitment made by Treasury and the SARB in May, when they responded to concerns rai…

Treasury ‘is treating crypto like banknotes’

Industry says National Treasury's crypto manual applies fiat money thinking to crypto-currency, publishing rules before the regulations are even finalised.