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Draft Crypto Assets Manual for cross-border activities
- 28 September 2026
- Miscellaneous
- South African Accounting Academy
Summary:
National Treasury and the South African Reserve Bank (SARB) have released a draft Crypto Assets Manual for public comment.
Article:
This manual proposes a framework for regulating cross-border crypto asset transactions and strengthening oversight of illicit financial flows.
The proposed regulatory measures seek to minimise the risk of regulatory arbitrage between regulated entities conducting cross-border activities, and to enhance the ability of the Financial Surveillance Department (FinSurv) to detect, deter and disrupt illicit financial flows.
The draft Manual provides practical guidance on the implementation of the draft Regulations regarding cross-border crypto asset transactions, in particular the application and adjudication process to conduct the business of an Authorised Crypto Asset Service Provider (CASP), the permissions and conditions applicable to cross-border crypto asset transactions, details of related administrative responsibilities, and reporting requirements to FinSurv,
The draft Manual provides clarity on the point at which crypto asset transactions are regarded as cross-border in terms of the draft Regulations. The trigger point arises when crypto assets are transferred between a domestic Authorised CASP and an offshore CASP, or from a domestic Authorised CASP to a non-custodial wallet, resulting in a cross-border inflow or outflow that must be reported to FinSurv.
The above means that only individuals, at this stage, will be allowed to externalise crypto assets via Authorised CASPs in terms of their single discretionary allowance or foreign capital allowance.
Comments are due by 30 September 2026.
Access the Media statement at https://www.resbank.co.za/content/dam/sarb/publications/media-releases/2026/cross-border-crypto.pdf
Click here to download the 88-page Draft Manual:
https://www.treasury.gov.za/comm_media/press/2026/Draft%20Crypto%20Assets%20Manual%202026-07-31.pdf
Relevance to Auditors, Independent Reviewers & Accountants:
- Accountants, auditors, independent reviewers and compilers of financial statements should stay up-to-date with the latest developments and information that affect crypto asset providers – especially those issued by regulators such as the National Treasury.
- As an auditor and independent reviewer, you also need to monitor your client’s compliance with all relevant directives/notices/communications issued by the SARB as a regulator to oversee illicit financial flows.
Relevance to Your clients:
- Compilers of financial statements should stay up-to-date with the latest developments and information that affect cross-border crypto asset transactions, especially with regards to the oversight illicit financial flows.
- The client has a duty to report to the relevant regulators, as well as to comply with relevant directives/notices/communications published by the SARB as a regulator.