This article discusses the tightening of crypto regulations in South Africa, particularly Directive 9, which mandates Crypto Asset Service Providers (CASPs) to implement stringent measures for tracking and reporting crypto asset transactions. The directive includes a ‘travel rule’ requiring detailed client information to accompany crypto transfers over R5000. It emphasizes the responsibility of CASPs to comply with South African regulatory frameworks like FICA, to ensure transactions are free from criminal activities such as money laundering and terrorism financing. The article also highlights the use of tools like VOCA to help CASPs stay compliant.
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