South Africa’s Crypto Economy Expands 52% to $39.3 B Amid Bear Market, Draft Rules Could Restrict Cross‑Border Transfers

South Africa’s crypto economy grew 52% to $39.3 billion in the year to June 2026, driven mainly by cross‑border stablecoin transfers and crypto service flows. Chainalysis data shows every activity category tracked in South Africa expanded, with stablecoin inflows reaching $14.6 billion—matching Bitcoin—and business‑like payments rising to $8.34 billion over the 12 months. The country’s crypto payments also extend to neighboring markets such as Nigeria, Kenya, the DRC, Tanzania, Namibia and Zimbabwe, positioning South Africa as a potential regional hub. However, a draft crypto manual issued by Treasury and the South African Reserve Bank on August 3 would require individuals to send crypto offshore only through authorized local providers and would prohibit companies from moving crypto across borders. The draft also introduces a three‑tier system for cross‑border activity that is not yet in force, and is part of an effort to keep South Africa off the money‑laundering greylist. The Finance Minister announced a revised second draft after thousands of public comments, aiming to align with Financial Stability Board recommendations.