South African Courts Divided on Crypto Regulation

The regulation of digital assets in South Africa has been thrown into uncertainty following two conflicting High Court judgements.

In 2025, the Pretoria High Court ruled in favour of Standard Bank, finding that crypto-currency is not subject to South Africa's foreign exchange regulations. However, a later judgement from the Johannesburg High Court reached the opposite conclusion, ruling that Bitcoin constitutes capital under the exchange control framework and can be subject to forfeiture for regulatory breaches.

Law firm Bowmans notes that the latest ruling has significant practical consequences, including the requirement for National Treasury approval before transferring crypto assets externally. This aligns with proposed Draft Regulations aimed at bringing crypto assets within South Africa's capital flow management framework.