3 entries.
The FSCA's supervisory update on Crypto Asset Service Providers reports 30 on-site inspections between April 2025 and March 2026, with regulatory expectations clarified under the FAIS Act framework. There is no new licensing regime yet; FAIS remains the baseline while Directive 9 and Travel Rule work continues. The inspection count is the story: SA's conduct regulator is actively supervising licensed CASPs, not just licensing them. For licensed firms, an inspection-readiness file is now a practical necessity rather than a nice-to-have.
The National Treasury signalled amendments to the Exchange Control Regulations to govern transfers of crypto assets to non-residents. This is the missing piece that puts crypto-to-fiat conversions and cross-border transfers under the same SARB approval and declaration machinery as ordinary currency transfers. The direction of travel is clear even before the text: VASPs holding customer funds, stablecoin issuers with cross-border redemption flows, and institutions moving ZAR into digital assets for offshore transfer should expect exchange-control reporting to become part of their compliance stack. The move aligns with FIC's Travel Rule guidance (PCC 123) and the wider capital flow management overhaul. Re-verified 6 July 2026: the signalled instrument arrived on 17 April as the Draft Capital Flow Management Regulations, 2026 (cpm-2026-0009).
CMA Rwanda's chief executive presented the regulator's approach to tokenisation of financial assets at the Inclusive FinTech Forum in Kigali: securities tokenisation, real-world assets, and tokenised funds and derivatives, all framed under the existing Capital Markets Act rather than new legislation. The supporting infrastructure moved in parallel, with CSD Regulations issued 3 February and a draft Intermediary Service Platform Operator regulation out for consultation from 12 February. Formal tokenisation guidelines were expected Q2 to Q3 2026 with a licensing window signalled for H2. Rwanda is building a token-issuance jurisdiction methodically, and platforms wanting first-mover status should be watching the CMA rather than the headlines. Re-verified 6 July 2026: events overtook the existing-legislation framing. Law No. 023/2026 regulating virtual asset business was gazetted on 28 May, making the CMA lead regulator for virtual assets (cpm-2026-0023).
The Monitor, by email
A weekly, purely legal read on digital-asset regulation across the Global South:
statutes, licensing regimes, enforcement. No prices, no projects, no trading.
Your address is stored to send you the Monitor, nothing else, and never shared with our other publications' lists. Unsubscribe any time. Privacy. This site itself sets no cookies.