South Africa Drafts Rules Requiring Authorized Providers for Cross-Border Crypto

South African lawmakers have introduced a draft regulatory framework governing cross-border cryptocurrency transactions. Under the proposed rules, any transfer of crypto assets to foreign destinations must be carried out through an authorized service provider. The draft also mandates that such transactions be reported to FinSurv, the financial surveillance department of the South African Reserve Bank. The proposal signals a move toward greater oversight of digital asset flows across South Africa's borders.