South African companies would be barred from moving crypto assets across the country’s borders in either direction under a draft framework released for public comment on Monday by national treasury and the South African Reserve Bank. The proposal is contained in the draft Crypto Asset Manual for cross-border activities, an 88-page consultation document issued by the Reserve Bank’s Financial Surveillance Department under Exchange Control Circular No 19/2026. Even as a proposal, the treatment of companies is a major departure from the treatment of individualsEven as a proposal, though, the treatment of companies is a major departure from the treatment of individuals. The document states that they “may not enter into crypto asset transactions deemed as import or export of capital”. Companies would still be able to buy crypto for rand locally, hold it in a custodial wallet, move it between local providers and sell it back for rand.