South Africa Plans Revised Capital Rules Covering Crypto After Public Comments

South Africa plans consultations on capital-flow regulations covering crypto assets after thousands of comments on the broader rules, with a revised draft expected but no timetable. Finance Minister Enoch Godongwana told Parliament Wednesday, Oct. 21, that consultations would begin and the government aimed to publish a revised second draft. He called for moving away from advance approvals toward reviews of transactions for legitimacy and tax compliance. “We must aim to shift away from pre-approvals. Instead, we must assess transactions for legitimacy and tax compliance,” Godongwana said. He gave no publication date and identified no provisions for revision.