South Africa will publish draft amendments to bring cryptocurrencies under its exchange-control regime, Finance Minister Enoch Godongwana said during a recent budget address. The proposed changes to the Currency and Exchanges Act would formally subject cross-border crypto transactions to the country’s capital flow management framework.

Why this matters

• Exchange control has been one of the most contested areas of South Africa’s crypto policy. While regulators previously applied exchange-control rules to certain offshore crypto transfers, the legal basis for doing so has been disputed.
• In 2025, the Pretoria High Court ruled that existing exchange-control laws — originally enacted to regulate capital flows — did not classify…