South Africa's Proposed Crypto Rules Put $135M in Deals on Hold
- —At least three deals worth 2.2 billion rand ($135 million) put on hold
- —Proposals bring crypto assets under the Currency and Exchanges Act
- —Cross-border crypto transfers would require reporting to FinSurv
- —USDT on-chain volume across three top licensed SA exchanges neared 27 billion rand in the year to April
Why it matters: The final framework will determine whether South African firms can use crypto and stablecoins for cross-border payments or shift activity offshore.
Source: The Crypto Times