South Africa has proposed new rules that would limit certain offshore transfers of cryptocurrencies and stablecoins. The draft crypto asset manual for offshore transactions was published by the South African Reserve Bank’s (SARB’s) Financial Surveillance (FinSurv) division, and contains a mix of outright bans and reporting requirements. The consultation period runs until the end of September.

It bans companies from using cryptocurrencies (including stablecoins) for offshore receipts or payments and bans all inbound transfers from self-hosted wallets. Outbound transactions by individuals to self-hosted wallets are permitted, but are automatically classified as offshore…