South Africans could be forced to sell their crypto, gold, and forex to the government

New draft regulations published could require South African residents to sell their gold, foreign currency, or crypto assets to the National Treasury if they exceed a specific threshold set by the Finance Minister.

This proposal is contained in the draft Capital Flow Management Regulations, which were published by the National Treasury for public comment on 17 April 2026.

According to the Reserve Bank, these draft regulations form part of broader efforts to address gaps in South Africa’s current Exchange Control Regulations.

This includes gaps related to cross-border crypto asset transactions, and will complement existing regulation by the Financial Sector Conduct Authority and Financial Intelligence Centre. 

There are several proposals South African investors should take note of in these draft regulations, including the mandatory sale of gold, foreign currency, and crypto assets.

Under the proposed regulations, South African residents who obtain possession of, or the right to sell, these assets exceeding a determined threshold must declare and offer to sell them to the National Treasury or an authorised dealer within 30 days.

This “determined threshold” will be set by the Finance Minister. The amount payable for the assets will be fixed by the Treasury or an authorised person, cannot be below the asset’s market value, and must be paid out in South African rand.

The mandatory sale requirement also kicks in if a person obtains a credit or balance in a foreign bank account that entitles them to receive payment in foreign currency or crypto assets.

It should be noted that gold, in the context of this requirement, excludes gold coins, jewellery, and artistic works.

The requirement also includes conditions regarding how the relevant individual must cooperate with the sale and prohibits unnecessary delays.

Under the proposed regulations, the relevant individual who is required to sell their assets will need to do “everything reasonably necessary” to transfer the assets to the buyer.

They are also forbidden to delay the receipt of payment or “frustrate the happening of a contingency”, unless they receive explicit permission to do so.

These proposed regulations are currently open for public comment until 18 May 2026.