South Africa’s push to bring crypto assets within a broader financial regulatory framework has elicited more criticism than praise. 

On the 20th of April, the National Treasury published and invited public feedback on the draft regulation, dubbed Capital Flow Management 2026. 

The proposed regulation will replace the decades-old Exchange Control Regulation of 1961, effectively covering crypto in the capital flow management framework. 

Commenting on the revised rules, the National Treasury and the central bank, South African Reserve Bank (SARB), said, 

The regulation seeks to bring crypto-assets within the ambit of the exchange control framework in order to address risks and ensure oversight of emerging financial instruments.

At…