South Africa is advancing its cryptocurrency regulatory framework, emphasizing cross-border transactions over ownership restrictions. The South African Treasury and Reserve Bank clarified that the new regulations will not criminalize or retroactively apply to crypto asset holdings. The public comment period for these regulations has been extended to June 30, 2026, allowing for further input. A draft framework manual is expected to be published, detailing the definition of cross-border crypto transactions and the responsibilities of authorized crypto asset service providers. This move follows South Africa's requirement for crypto asset service providers to register with the Financial Conduct Authority, as the country remains a significant player in Africa's crypto market, according to a Chainalysis report.