South Africa’s Crypto Economy Grows 52% Over the Past Year to $39.3 Billion; Cross-Border Regulatory Draft May Be Revised

on October 30, BeInCrypto cited Chainalysis data showing that South Africa's crypto economy expanded by 52% to $39.3 billion over the twelve months ending June 2026, with increases across all tracked activities. Commercial payments, including those from local merchants and P2P traders, accounted for $8.34 billion, growing at a faster pace than institutional activity ($1.29 billion in inflows). Meanwhile, stablecoin inflows through P2P channels in Sub-Saharan Africa reached $14.6 billion, matching Bitcoin.

The draft crypto asset management regulations released on August 3 by the South African National Treasury and the central bank (SARB) stipulate that individuals can only transfer crypto assets abroad through authorized local service providers within their existing overseas quotas, while enterprises are prohibited from transferring crypto assets cross-border. As of March 31, the Financial Sector Conduct Authority (FSCA) had issued licenses to 310 crypto asset service providers, but these entities still require separate authorization from the SARB. On October 21, Minister of Finance Enoch Godongwana stated that following the receipt of thousands of public comments, the Treasury will aim to publish a revised second draft, though no timeline has been disclosed.