South Africa’s National Treasury has released Draft Capital Flow Management Regulations for 2026 that would bring crypto-assets under exchange controls by treating them as “capital” within the country’s cross-border financial regime. The draft would tighten foreign exchange oversight through declarations, approvals and sanctions tied to crypto-related capital movements. The proposal builds on the Treasury’s earlier framework by adding clearer emphasis on enforcement and cross-border compliance as South Africa’s digital asset market matures. The existing consultation timeline remains tied to the April 24 notice, with public comments due within 30 days.