Luno urges South Africa to reform crypto laws

• Luno wants South Africa to update its crypto laws through Parliament.
• The exchange said legal reforms should not rely on executive proclamations.
• Luno argued that legislation would provide stronger regulatory certainty.

Luno has called on South Africa to update its cryptocurrency laws through Parliament, rather than using executive proclamations.

The crypto exchange said passing legislation would create a stronger legal foundation for the country's digital asset industry.

“There should be proper parliamentary oversight for crypto regulation,” Luno said.

Luno argued that laws approved by Parliament would provide greater certainty for businesses, investors and regulators than changes introduced through executive action.

South Africa has been expanding its crypto regulatory framework, with regulators introducing licensing requirements for crypto asset service providers in recent years.

The country is considered one of Africa's largest cryptocurrency markets, with growing retail and institutional interest in digital assets.

Luno said a clear legislative framework could support long-term growth while improving consumer protection and regulatory consistency.