South Africa to include crypto in exchange control framework
According to Finance Minister Godongwana, says to be published soon


South Africa's emergence as Africa's most advanced crypto regulatory jurisdiction — from SARB authorizing banks to serve crypto clients through FSCA licensing 248 firms, SARS crypto tax enforcement, the stablecoin sovereignty debate and the FATF greylist exit.
According to Finance Minister Godongwana, says to be published soon



The bank sees no need to deploy a retail CBDC anytime soon, but it will explore wholesale options.

Adoption is on the rise, but with increased adoption comes financial stability risks that the bank is now looking to counteract.

SARB said the absence of a complete regulatory framework for crypto assets and stablecoins remains a key vulnerability in South Africa’s financial system.

Lesetja Kganyago says he is unconvinced by the supposed stability of USD-pegged stablecoins and believes their backing can be called into question

It will set parameters, conditions, administrative responsibilities, and reporting requirements for cross-border crypto transactions.

According to Judge M. P Motha, crypto is not money, and the scope of current regulations do not define crypto as capital.

The exchange is complying with the FIC’s directive to implement the FATF’s Travel Rule by April 30.

The agency says that criminal actors are turning to crypto to launder their profits and wants licensed VASPs to report them