Capital controls stories

Aug 7, 2026

South Africa's Proposed Cross-Border Crypto Restrictions Spark Industry Backlash

South Africa's draft Crypto Assets Manual proposes banning corporate cross-border stablecoin transactions and treating transfers to self-custody wallets as capital outflows, prompting warnings from industry leaders like VALR CEO Farzam Ehsani that the rules could drive crypto activity offshore and reduce regulatory oversight.

Aug 7, 2026·5 sources

Jul 22, 2026

Bank for International Settlements study finds dollar-backed stablecoins largely unaffected by capital controls in emerging markets

The BIS published research finding that USD-pegged stablecoins like USDT and USDC are largely unaffected by capital controls across 130+ economies, creating new channels for digital dollarization that challenge traditional monetary policy tools in emerging markets.

Jul 22, 2026·9 sources

Top claims

▪South African cryptocurrency exchange Luno formally challenged the proposed capital-flow rules, urging parliament to rewrite the framework.
▪VALR CEO Farzam Ehsani warned that banning corporate crypto flows will drive transactions underground or offshore, reducing regulatory visibility.
▪The draft rules propose a ban on South African corporate entities conducting cross-border stablecoin and cryptocurrency transactions.

Subtopics

Regulatory arbitrage Self-custody Crypto privacy & surveillance Crypto regulation Stablecoin regulation

Stablecoins

Digital Dollarization

Central Bank Digital Currencies (CBDCs)

Payments

Related timelines

Capital controls stories

South Africa's Proposed Cross-Border Crypto Restrictions Spark Industry Backlash

Bank for International Settlements study finds dollar-backed stablecoins largely unaffected by capital controls in emerging markets

Related timelines

US Congress

Iran War

Strait of Hormuz blockage

Trump administration

AI Data Center Gold Rush