South African companies could be banned from moving cryptocurrency across the country’s borders under a draft framework released by the National Treasury and the South African Reserve Bank for public comment.
The proposal would allow individuals to transfer crypto offshore within existing foreign investment limits, but companies would be prohibited from sending or receiving crypto assets internationally, restricting activities such as stablecoin payments, offshore fundraising and cross-border treasury management.
Businesses would still be able to buy, hold and sell crypto locally through licensed providers, but cross-border transactions would be classified as non-permissible.
The draft also proposes new rules for crypto providers, including higher capital requirements, restrictions on offshoring business processes, and limits on certain cross-border transactions.
The framework is still under consultation, with public comments open until 30 September 2026, and has no legal effect until final regulations are adopted.
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