National Treasury and SARB publish draft Crypto Assets Manual for cross-border transactions

Posted 28 September 2026 Written by Acts Online
Category Exchange Control

Brought to you by SA Accounting Academy: National Treasury and the South African Reserve Bank (SARB) have released the draft Crypto Assets Manual for public comment, setting out the regulatory architecture for cross-border crypto asset transfers and Authorised Crypto Asset Service Provider (CASP) compliance.

Formulated under the Currency and Exchanges Act, No. 9 of 1933 and the Exchange Control Regulations, the draft Manual serves as the implementation guideline for the proposed draft Regulations governing cross-border crypto asset transactions. The measures aim to curtail regulatory arbitrage across cross-border financial market participants and enhance the capacity of the Financial Surveillance Department (FinSurv) to monitor illicit financial flows.

The draft Manual establishes operational rules and administrative requirements across several critical regulatory areas:

  • The formal application and adjudication criteria required to obtain status as an Authorised CASP;
  • The conditions and statutory limits applicable to cross-border crypto transactions;
  • Administrative protocols and transactional reporting requirements enforceable by FinSurv; and
  • Transfer limits establishing that only natural persons may externalise crypto assets via Authorised CASPs within their Single Discretionary Allowance (SDA) or Foreign Capital Allowance (FCA).

Cross-border transaction trigger points

The draft Manual provides objective criteria for determining when a transaction constitutes a reportable cross-border transfer. A cross-border event is triggered whenever crypto assets are transferred between a domestic Authorised CASP and an offshore platform, or between a domestic Authorised CASP and an unhosted (non-custodial) wallet. Transfers across both channels create cross-border flows that CASPs must report to FinSurv.

At this stage of the regulatory implementation, corporate entities are not permitted to externalise capital via crypto assets. Externalisation remains strictly restricted to individual residents subject to the annual R1 million SDA or R10 million FCA allowances.

Click here to download the SARB Media Statement and the complete Draft Crypto Assets Manual.

What this means for you, your business, or your clients

  • For yourself: When transferring crypto assets from local exchanges to foreign exchanges or non-custodial cold storage, you must account for these amounts against your annual R1 million SDA or R10 million FCA to avoid exchange control contraventions.
  • For your business: Advisory and accounting practices must advise corporate treasury clients that corporate externalisation via crypto remains prohibited under exchange control rules, and prepare CASP audit clients for upcoming FinSurv reporting architecture.
  • For your clients: Individual clients moving crypto offshore exceeding R1 million must secure an Approved International Transfer (AIT) tax compliance status PIN from SARS, and CASP clients must implement technical controls to log and report all transfers to offshore platforms and non-custodial wallets.

Originally published at https://accountingacademy.co.za/news/read/draft-crypto-assets-manual-for-cross-border-activities

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