South Africa is preparing a new regulatory framework for cross-border cryptocurrency transactions, according to Finance Minister Enoch Godongwana. The South African Reserve Bank will release the framework this year, focusing on cross-border crypto asset transfers.

The move comes after a High Court ruling left cryptocurrencies exempt from exchange control regulations. Instead of a broad exemption framework for exchanges, authorities aim to regulate the activities of crypto asset service providers involved in moving value across borders.

The framework will set…