South Africa's Crypto Economy Grew 52% to $39.3 Billion in One Year; Cross-Border Regulatory Draft May Be Revised

TechFlow reported on Oct. 30 that, according to BeInCrypto, Chainalysis data showed South Africa's crypto economy grew 52% to $39.3 billion in the year through June 2026, with tracked activity rising across categories. Commercial payments, including those by South African merchants and P2P traders, reached $8.34 billion, growing faster than institutional activity ($1.29 billion in inflows); stablecoin inflows through P2P channels in sub-Saharan Africa reached $14.6 billion, matching Bitcoin.

The draft crypto asset management rules released by South Africa's Treasury and central bank (SARB) on Aug. 3 proposed that individuals may only transfer crypto assets abroad through authorized local service providers within existing offshore allowances, while companies would be prohibited from cross-border transfers of crypto assets. As of Mar. 31, the Financial Sector Conduct Authority (FSCA) had issued licenses to 310 crypto asset service providers, but these firms still need separate SARB authorization. On Oct. 21, Finance Minister Enoch Godongwana said the Treasury will aim to publish a revised second draft after receiving thousands of public comments, but no timetable has been announced.

Source: TechFlow