Svmuu News: South African Finance Minister Enoch Godongwana announced that draft regulations will soon be released to incorporate crypto assets into the capital controls framework under the Currency and Foreign Exchange Act. This move comes in response to a ruling by the Pretoria High Court last year that “cryptocurrency is not a currency,” a ruling that temporarily exempted crypto assets from South Africa’s foreign exchange controls. The South African Reserve Bank has appealed the ruling and is currently developing a new framework for cross-border crypto asset transactions. Previously, South African regulators had restricted users from purchasing overseas cryptocurrencies with payment cards and warned that unauthorized cross-border transfers of crypto assets could constitute a criminal offense. (Mybroadband)