REGULATION 🇿🇦 | South Africa to Revise Proposed Crypto Rules After Industry Backlash The draft rules, developed by the National Treasury and South African Reserve Bank, sought to bring crypto transfers under the country’s exchange-control framework to improve oversight of capital flows and combat illicit financial activity. However, the proposals drew criticism from crypto businesses over restrictions on cross-border payments, stablecoin transactions, and transfers to self-custody wallets, raising concerns that the rules could limit legitimate activity and push transactions into unregulated channels. The government will begin consultations on a revised second draft of the regulations with the treatment of crypto assets also guided by recommendations from the Financial Stability Board. Details: https://t.co/8frk6nWdyV #CryptoSA #RegulationSA #CryptoSouthAfrica #CryptoRegulationAfrica