South Africa Tightens Cryptocurrency Regulations to Prevent Illicit Financial Flows
South Africa is implementing new regulations to monitor cross-border cryptocurrency transactions as part of efforts to prevent illicit financial flows. This move follows the country's exit from the Financial Action Task Force (FATF) greylist, which it was placed on due to weaknesses in combating money laundering and terrorist financing. The South African Reserve Bank and Treasury have introduced a draft crypto assets manual, which outlines the regulatory framework for cross-border crypto transactions. The manual aims to enhance the Financial Surveillance Department's ability to detect and disrupt illegal financial activities. 
