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The South African Treasury and the Central Bank have released a draft manual for the regulation of cross-border crypto assets, seeking public opinion

The South African National Treasury and the South African Reserve Bank (SARB) have jointly released the "Draft Manual on Cross-Border Crypto Asset Activities," which is now open for public consultation, with a deadline of September 30, 2026.This manual is implemented in conjunction with the previously released "Draft Regulations on Capital Flow Management 2026," aiming to strengthen the regulation of cross-border financial activities and prevent the risks of illegal fund flows related to crypto assets.The manual specifies the triggers for cross-border crypto asset transactions—when crypto assets are transferred between authorized CASPs in South Africa and foreign CASPs, or when they are transferred from an authorized CASP in South Africa to a non-custodial wallet, this constitutes cross-border capital inflow or outflow and must be reported to the Financial Surveillance Department (FinSurv).It is noteworthy that, at this stage, individuals are only allowed to conduct outbound crypto asset operations through authorized CASPs within a single discretionary limit or foreign capital limit, and South African entities are currently not permitted to engage in related cross-border operations.Furthermore, the manual does not currently differentiate between different types of crypto assets, nor does it classify crypto assets as South Africa's official currency.

The fluctuations in the South Korean stock market have triggered a "reverse capital migration": over 24 trillion won has flowed into the fixed deposits of the five major banks

According to Daum, the South Korean stock market has recently experienced increased volatility, with investors' risk appetite significantly cooling, and funds are flowing back from the stock market to safer assets such as banks. Due to adjustments in the semiconductor sector and stricter regulations on leveraged investments, the funds waiting to be invested in the South Korean stock market are rapidly withdrawing, leading to a phenomenon of "reverse capital migration."Data shows that by the end of July, the balance of time deposits at the five major banks in South Korea (KB Kookmin, Shinhan, Hana, Woori, NH Nonghyup) reached 973.49 trillion won, an increase of 24.09 trillion won compared to the end of the previous month, marking the largest monthly increase this year.There has also been a noticeable contraction in funds around the stock market. Data from the Korea Financial Investment Association shows that the deposits in investors' securities accounts (funds waiting to be invested in stock trading) reached a historical high of 139.69 trillion won on June 4, but had fallen to 107.20 trillion won by July 28, a decrease of over 32 trillion won in less than two months. The balance of credit trading financing, which represents the scale of market financing transactions, also dropped to 33.19 trillion won during the same period, down approximately 4.5 trillion won from the peak of 37.72 trillion won recorded on July 2, a decrease of about 12%.
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