Under the proposed framework, a crypto asset would be defined as a digital representation of value that is not issued by a central bank, can be traded, transferred or stored electronically, uses cryptographic techniques and relies on distributed ledger technology.
South Africa’s National Treasury has published draft Capital Flow Management Regulations that would bring crypto assets directly into the country’s exchange control framework for the first time, introducing new requirements for cross-border transactions, asset declarations and compliance.
The proposed regulations are made under section 9(1) of the Currency…
