Investing.com — South Africa has published draft regulations aimed at bringing cryptocurrencies under the country’s exchange control framework, according to a government notice published Friday.
The draft Capital Flow Management Regulation, now open for public comment, aims to manage risks associated with emerging financial instruments and ensure appropriate oversight of crypto-assets.
The proposed regulations aim to combat money laundering, terrorist financing and illicit financial flows. The rules also aim to clarify exemptions, authorizations and conditions while imposing administrative sanctions for non-compliance.
The public has 30 days to submit comments on the draft regulation.
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