South Africa has proposed new rules requiring cross-border crypto transfers to pass through authorized providers and be reported to the central bank, expanding the country’s effort to bring digital assets under its financial control framework.

According to local media, South Africa’s National Treasury and the South African Reserve Bank (SARB) on Monday released a draft Crypto Asset Manual setting out when crypto transactions become regulated cross-border events and how they must be handled. The proposal forms part of the country’s ongoing overhaul of its capital flow rules first introduced in April.

South Africa has defined when crypto transfers become reportable

Under the draft, moving crypto offshore will only qualify as a cross-border transaction in specific situations. A report to the SARB’s Financial Surveillance Department (FinSurv) would be required when crypto assets move from a locally authorized Crypto Asset Service Provider (CASP) to an offshore CASP or into a privately controlled non-custodial wallet.

The proposal says people who wish to transfer crypto abroad would have to use an authorized provider instead of sending assets directly through unregulated channels. FinSurv would receive reports of those transactions as part of the country’s foreign exchange monitoring process.

Domestic crypto activity would remain outside those reporting requirements. Buying or selling crypto in South African rand through a local authorized provider would not be treated as a cross-border event under the proposed framework.

For now, the draft allows only individuals to move crypto assets offshore, and only within South Africa’s existing foreign currency allowances. The SARB also said the framework does not recognize crypto assets as legal tender and currently does not distinguish between different categories of digital assets because additional research is still underway.

Interested parties can submit comments on the draft until Sept. 30.

Crypto rules build on South Africa’s earlier capital flow proposal

The new manual follows South Africa’s Draft Capital Flow Management Regulations released in April, which proposed bringing crypto assets into the country’s foreign exchange control system for the first time.

The National Treasury and SARB said in April that crypto assets would be treated as a form of capital moving across borders, placing them alongside other regulated assets under the country’s capital flow regime. The proposal was also designed to replace South Africa’s Exchange Control Regulations dating back to 1961 while aligning the country’s framework with recommendations from the Financial Action Task Force and the Organisation for Economic Co-operation and Development.

The April proposal introduced the concept of authorized crypto service providers, transaction reporting, declaration requirements and administrative penalties for non-compliance. Treasury officials said at the time the policy would focus on reporting, traceability and risk-based oversight instead of relying only on transaction-by-transaction approvals.

The draft Crypto Asset Manual now explains how those principles would work in practice by defining the point at which crypto movements become cross-border transactions that fall under financial surveillance rules.

Authorities have linked the framework to financial crime controls

According to Reuters, the reporting framework is intended to stop crypto assets from being used to bypass South Africa’s existing financial controls while helping authorities identify illicit financial flows.

By limiting offshore transfers to authorized service providers, regulators would receive transaction data through FinSurv instead of relying on transfers conducted outside the regulated financial system.

The proposal arrives as crypto adoption continues to grow in South Africa. Reuters, citing blockchain analytics firm Chainalysis, said the country already has hundreds of licensed virtual asset service providers, while several major banks are developing crypto products for institutional clients.

South Africa has become one of Africa’s largest digital asset markets in recent years. Earlier industry estimates placed annual crypto transaction value in the country among the highest on the continent, while blockchain investment has continued to attract institutional interest.

Crypto oversight has expanded beyond capital controls

The latest consultation follows another crypto policy proposal published in July by the South African Revenue Service (SARS), which released draft guidance explaining how existing tax laws apply to digital assets.

Unlike the latest capital flow proposal, the SARS draft focused on taxation rather than foreign exchange regulation. It confirmed that crypto assets are treated as intangible assets instead of legal tender or foreign currency under existing tax law and explained how income tax and capital gains tax could apply depending on each taxpayer’s circumstances.

The tax authority also outlined how activities including crypto trading, token swaps, staking, mining, decentralized finance participation and crypto payments may trigger taxable events under current legislation.

At the same time, South Africa has begun implementing the Crypto-Asset Reporting Framework (CARF), under which crypto service providers will collect and report selected customer and transaction information to SARS. The first reporting period runs from March 1, 2026, through Feb. 28, 2027.

A solo miner scored a major win even as the broader market frets over a multimillion-dollar Coldcard hardware wallet exploit.

According to mempool data, an independent miner successfully packaged block 960,804 early Monday. The block reward of 3.157 BTC is valued at approximately $199,300. Details on the specific hardware used remain unknown.

The success came just three weeks after another solo miner, running a single hobbyist-grade Bitaxe device, struck block 957,382, pocketing 3.1382 BTC, worth roughly $200,000 at the time.

These back-to-back wins highlight a broader trend. Solo miners have already claimed 13 blocks this year. While individual operators continue to defy the odds with relatively modest setups, the wider Bitcoin mining sector has come under stress due to tight margins. That has prompted several large mining companies to pivot toward artificial intelligence data centers and related infrastructure in search of sustainability.

Meanwhile, small BTC holders continue to express frustration over the Coldcard incident, which has led to the loss of long-held Bitcoin savings. Over the weekend, onchain data showed signs of some BTC holders moving millions of dollars worth of coins to exchanges.

Bitcoin could confirm a bear-market bottom in August with a monthly close above $63,000, according to 10x Research.

Markus Thielen, founder of 10x Research, said in a Monday report shared with Cointelegraph that Bitcoin closed July below the threshold needed to confirm a technical bottom.

A monthly close near $63,000 would turn several of 10x Research’s cycle indicators bullish. Bitcoin was trading at $63,140 when the analysis was prepared, meaning a relatively small gain from July’s closing level could trigger the reversal signal. The company said it continued to favor long positions but would shift to a neutral stance if Bitcoin broke key support levels and moving averages.

The base case is that the Federal Reserve holds interest rates steady. However, further increases in the 10-year Treasury yield could force a September rate hike, while the Iran conflict remained an unpredictable risk.

The report said miners could generate roughly 100,000 BTC of selling pressure as some miners shift their businesses toward artificial intelligence. The company said it expected additional supply from Bitcoin treasury companies unwinding positions, though it described macroeconomic conditions as the larger risk to the market.

Bitcoin monthly relative strength index (RSI) chart. Source: 10x Research 

Separately, Grayscale head of research Zach Pandl said in a July 22 report that Bitcoin may have bottomed earlier than the traditional four-year cycle would suggest. That pattern would place the cycle low in September or October.

Pandl said macroeconomic conditions, including Fed policy, would remain the primary drivers of Bitcoin’s price and could determine when it bottoms.

Related: Strategy-led group pledges $15M to quantum-proof Bitcoin network

More indicators point to an approaching Bitcoin bottom

Earlier in July, crypto brokerage K33 said more than half of Bitcoin’s supply was held at a loss, which it described as another indication that a market bottom was approaching.

Bitcoin during periods when 50% of supply was held at a loss, with subsequent annual returns. Source: K33

Bitcoin bottomed within 13 to 31 days of the same threshold being reached in 2017, 2018 and 2022, according to K33.

In a June interview, Swan Bitcoin CEO Cory Klippsten told Cointelegraph that long-term holders’ record balance of 14.7 million BTC was another indication that Bitcoin was nearing a bottom.

Magazine: ‘Bitcoin Standard’ author explores reality where decentralized gold stopped WWI

On 23 July 2026, Brent crude rose above $100 amid reports of attacks on tankers and infrastructure in the Red Sea area, as well as strong statements from Donald Trump towards Iran over threats to shipping security through the Strait of Hormuz. The move proved short-lived: on 30 July, Saudi Arabia proposed creating a maritime coalition to protect key shipping routes amid the ongoing confrontation between the US and Iran. According to CNBC data from 31 July, tanker traffic through the Strait of Hormuz partially resumed, although the Islamic Revolutionary Guard Corps claimed attacks on vessels under US escort — claims that have not been confirmed by Western maritime authorities.

Technical Analysis of Brent Crude Oil

On the four-hour XBRUSD chart, the asset formed a short-term trend from the beginning of July, moving from around $71 towards the $102 area. The trendline was then broken, after which the current market profile was formed, within which the price is currently trading. The asset is now positioned between the POC (Point of Control) zone at $92.20 and the upper boundary of the profile at $94.60. A breakout above this boundary could open the way towards the red resistance level at $98.50.

If the price moves below the POC zone, the next area of interest would be the cluster of two important levels: the lower profile boundary at $86.80 and the green support level at $85.30. The RSI + MAs indicator shows readings of 58, 51 and 51, with all oscillator values returning to the neutral zone after a period of elevated volatility. Trading volume remains relatively high, confirming continued market interest from participants.

Summary

Saudi Arabia’s initiative to create a maritime coalition could gradually reduce the geopolitical risk premium priced into oil if diplomatic efforts continue to make progress. However, unconfirmed reports of incidents in the Strait of Hormuz continue to leave room for increased volatility. The neutral positioning of the RSI + MAs indicators currently suggests that there is no clear directional momentum.

Start trading commodity CFDs with tight spreads (additional fees may apply). Open your trading account now or learn more about trading commodity CFDs with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Bitget has begun withdrawing services for residents of Japan, stopping new account registrations immediately and setting a timeline that will lead to mandatory account restrictions later this year.

Bitget announced on Monday that it has stopped accepting new registrations from residents of Japan and will begin applying account restrictions from Nov. 1 as it exits the market. The exchange also said any positions that remain open on Dec. 31 will be closed automatically as part of the withdrawal process.

Under the plan, users who believe they have been mistakenly identified as residents of Japan must complete Level 2 identity verification, including address verification, before Nov. 1. Bitget said accounts that fail to complete the process by the deadline will continue to be classified as belonging to residents of Japan and will become subject to the restrictions.

Users affected by the changes will receive further instructions by email explaining the required procedures and available options for managing or withdrawing their assets, according to the announcement.

Japan action follows repeated regulatory warnings

The latest decision comes after several warnings issued by Japanese regulators over the past few years.

Japan’s Financial Services Agency first warned Bitget in March 2023 for allegedly offering cryptocurrency services to Japanese residents without registration. The regulator repeated that warning in November 2024, again stating that the exchange had continued operating without obtaining the required authorization.

Regulatory scrutiny continued in June 2025 when the Kanto Local Finance Bureau, a regional bureau of Japan’s Ministry of Finance, issued a separate warning to BTG Technology Holdings Limited. The bureau said the company, which it identified as operating under the Bitget name, had solicited online over-the-counter derivatives transactions without registration.

Rather than announcing plans to seek local authorization in Japan, Bitget has now outlined a timetable for ending services to residents, with new registrations already closed and existing accounts moving toward phased restrictions.

Bitget continues separating markets under local rules

The Japan withdrawal follows a pattern that Bitget has adopted across several jurisdictions, where product availability depends on local regulatory status instead of a single global operating model.

In July, the exchange formally stated that it is not licensed, approved, registered or supervised by the Monetary Authority of Singapore. Bitget also confirmed Singapore remains a prohibited jurisdiction under its terms of use, saying it neither offers nor targets its services to residents there while restricting platform access from the country.

At the same time, Bitget has continued seeking registrations and approvals in markets where it intends to operate. Last month, the company completed registration on New Zealand’s Financial Service Providers Register across several financial service categories and joined the country’s Insurance and Financial Services Ombudsman dispute resolution scheme.

However, New Zealand’s Companies Office states that registration on the FSPR does not by itself represent government approval or active regulatory supervision. Certain financial activities may still require separate authorization from the Financial Markets Authority or the Reserve Bank of New Zealand.

Commenting on the company’s regulatory strategy in previous statements, Bitget CEO Gracy Chen said the exchange would continue pursuing local regulatory requirements as it expands internationally.

Expansion plans continue outside restricted jurisdictions

While reducing access in markets where it lacks local authorization, Bitget has continued preparing for expansion elsewhere.

As previously reported by crypto.news, the company plans to establish a separate U.S. entity before launching services in the country. According to her comments, Bitget intends to secure money-transmitter, broker-dealer and derivatives approvals before entering the U.S. market, regardless of whether Congress ultimately passes the CLARITY Act.

The exchange has also been expanding its tokenized investment products. Chen previously said tokenized traditional assets accounted for between 20% and 30% of Bitget’s spot trading volume during the previous quarter, while more than half of its users held both cryptocurrencies and stocks.

Ripple announced two new strategic investments as the blockchain-focused fintech seeks to expand access to tokenized financial assets on its blockchain ledger.

The company said it made strategic investments in Zilo, which provides global transfer agency asset solutions for wealth managers, and in Licuido, a tokenization solutions provider regulated by the UK Financial Conduct Authority, according to a Monday announcement.

Financial details for the investments were not provided. UK-based Zilo has raised $58.7 million in total equity funding, according to data compiled by Traxcn. Licuido is also based in the UK.

Ripple expects these deals to bring regulated transfer agency, issuance, and collateral mobility to its XRP Ledger (XRPL) infrastructure.

Combining the investments aim to help Ripple address the issues tied to idle collateral by enabling tokenized funds to be used as collateral from the point of issuance. The announcement came a week after London-based asset manager Aviva Investors launched a tokenized share class of its US Dollar Liquidity Fund on XRPL, after receiving approval from the Central Bank of Ireland.

Last month, Ripple launched Ripple Mint, a platform that gives institutions new ways to access, mint, redeem and manage its US dollar-pegged stablecoin, Ripple USD (RLUSD). 

XRPL is the 11th-largest blockchain network with $368 million in tokenized real-world assets (RWAs). Ethereum ranked first with $17.1 billion in tokenized RWAs, according to data provider RWA.xyz. 

Total RWA holders increased by 50% to 1.57 million during the past 30 days, while the total value of tokenized assets rose by 1.5% to $37.3 billion.

Magazine: What NYSE’s exploration of onchain systems means for financial markets

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.