South African Reserve Bank Classifies Crypto and Stablecoins as Structural Risk
The South African Reserve Bank (SARB) said it is treating crypto assets and stablecoins as a structural risk amid rapid growth in domestic usage, moving them into a newly created, closely monitored category. SARB’s statement frames the change as a response to increasing penetration of crypto products that could pose threats to payment systems, consumer protection and broader financial stability. This reclassification raises the prospect of stricter regulatory measures for banks, exchanges and stablecoin issuers, including enhanced reporting, capital or reserve requirements and limits on institutional exposure. For consumers and local markets, the announcement is a cautionary signal that could curb adoption momentum and prompt platforms to prepare for closer supervision. Policymakers and industry participants will now watch for follow-up guidance that outlines concrete rules and timelines.