Luno CEO Warns South Africa Could Miss $33T Stablecoin Market as June 30 Regulation Deadline Approaches

According to Luno CEO James Lanigan, South Africa's proposed Capital Flow Management Regulations could inadvertently block local businesses from accessing the global stablecoin payment market, valued at $33 trillion in 2025. Lanigan warned on June 11 that the new rules from the National Treasury and South African Reserve Bank, or SARB, risk locking South African enterprises out of modern cross-border payment systems and capital flows.

The public comment deadline for the draft regulations has been extended to June 30, 2026, following industry backlash over enforcement provisions. Lanigan emphasized that stablecoins are critical infrastructure for both domestic treasury flows and cross-border settlement, reducing friction and costs. However, regulators will only release a detailed instructional manual defining what constitutes a "cross-border crypto transaction" after the comment period closes, leaving businesses in legal uncertainty.