Key Takeaways:
South Africa’s National Treasury and SARB extended the capital-flow comment deadline to June 30, 2026.VALR CEO Farzam Ehsani warned the draft rules risk reversing years of regulatory progress in the sector.Treasury will next publish a draft manual outlining which cross-border crypto transactions face controls.Despite the government’s assurances, the draft has drawn sharp backlash from exchanges, academics, and advocacy groups who argue the proposal could have far-reaching consequences for ordinary users.
Industry Backlash and PenaltiesTreasury and the SARB will review all submissions after the June 30 deadline and make revisions where appropriate.
