Finance minister Enoch Godongwana.
MTBPS 2026: Finance minister Enoch Godongwana has conceded that a “different approach” will be required for crypto regulations.
This, after National Treasury received thousands of comments following publication of the Draft Capital Flow Management Regulations, which included the cross-border treatment of crypto assets.
The draft regulations, published in April, represent a fundamental overhaul of South Africa’s exchange control framework, moving away from the pre-approval model, towards a risk-based system focused on reporting, surveillance of high-impact and high-risk cross-border transactions and combating illicit financial flows.
Breaches could result in fines of up to R1 million, imprisonment…
