Government Extends Deadline For Public Comment On Draft Crypto Asset Regulations

In a joint statement, the two institutions said the extension followed requests from stakeholders for more time to review the draft regulations and provide input.

The statement noted that public concerns and media attention have largely focused on the treatment, possession and trade of crypto assets, particularly possible restrictions on cross-border transactions.

Government said the draft regulations are intended to strengthen the authorities’ ability to detect, deter and disrupt illicit financial flows.

Authorities also assured the public that the proposed framework will complement existing regulatory measures already implemented by the Financial Intelligence Centre and the Financial Sector Conduct Authority.

“The draft regulations do not intend to criminalise the possession of crypto assets or apply the regulations retrospectively,” the statement said.

Cross-border crypto asset framework

Government added that a proposed cross-border crypto asset framework, in the form of a draft manual, will soon be released for public comment to support the draft regulations.

The draft manual is expected to clarify which crypto asset activities would be regarded as cross-border transactions and therefore fall under capital flow management measures.

It will also outline the obligations and responsibilities of authorised crypto asset service providers.

According to the statement, the proposed framework is intended to allow lawful cross-border crypto asset transactions within clear guidelines, while protecting the integrity of the financial system.

“The Constitution protects various rights, including property rights, while also recognising that suspected illicit activities warrant the attention of authorities,” the statement said.

Government also dismissed concerns that holders of crypto assets, gold or foreign currency, could be forced to sell these assets to the State or authorised foreign exchange dealers.

“Any requirement to dispose of these assets would arise only under limited circumstances, such as where an offence has been committed,” the statement said.

It added that exchange control exemptions and relaxations introduced over the years already allow South Africans to legally externalise capital for foreign investment diversification and to hold foreign assets in various forms.

The draft regulations, published on 17 April 2026, are available on the National Treasury website.

The original deadline for public comments was 18 May 2026, but this has now been extended to 30 June 2026. The extension notice will be gazetted in due course.

Written comments must be submitted to the National Treasury at az.vog.yrusaert@noitalsigeltfardtnemmoC by close of business on Tuesday, 30 June 2026.

After the deadline, the National Treasury and the Sarb will review submissions and make any necessary revisions.