South Africa releases draft manual on cross-border crypto activity

• South Africa has released a draft manual on cross-border crypto activity to provide guidance on implementing regulations for cross-border crypto asset transactions.
• The draft manual, open to public comment, aims to ensure that cross-border crypto transactions align with South Africa's capital flow management laws and sets out proposed trigger points for cross-border classification.
• The draft manual has sparked public comment, with the National Treasury and the South African Reserve Bank indicating that it remains subject to refinement following consideration of all public comments and stakeholder engagements.