South Africa Proposes New Capital Flow Management Regulations

South Africa's Treasury has released the draft of the 2026 Capital Flow Management Regulations for public consultation. According to PANews, the draft aims to restructure the current foreign exchange control framework under the Currency and Exchanges Act. Key proposals include aligning with the OECD and FATF recommendations on anti-money laundering, counter-terrorism financing, and curbing illicit financial flows. For the first time, crypto-assets will be included in the foreign exchange control scope to enhance risk management and regulation. The draft also clarifies exemptions, licensing, and applicable conditions, and introduces administrative penalties for violations. Feedback must be emailed to the National Treasury within 30 days of the announcement.