Overview
- National Treasury published the draft Capital Flow Management Regulations on April 17 and opened public comment through May 18.
- Crypto assets are explicitly classified as capital under South Africa’s foreign‑exchange regime, replacing parts of the 1961 rules.
- Residents holding crypto, foreign currency, or investment‑grade gold above thresholds the finance minister will set must declare within 30 days and offer those assets for sale.
- Any compelled sale would be paid in South African rand at no less than market value, and the gold rule excludes coins, jewellery and artistic works.
- Certain crypto transfers would need prior approval, transactions must run through authorised providers, border agents could search for undeclared holdings, and violations carry penalties up to 1 million rand or five years in prison.