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Payout rules

Does a payout rule apply to you, and when?

Pick where you pay from, where to, and how. You get each rule that reaches that payout, what it changes, its dates, and the document it comes from. Free, no sign-up; it runs in your browser.

Draft Capital Flow Management RegulationsDepends
A draft, not law yet. Applies once final; the in-force date is not set yet.
Draft Capital Flow Management Regulations, published for comment 17 Apr 2026 to replace the 1961 Exchange Control Regulations, treat crypto assets as 'capital' for exchange-control purposes, the same category as any other cross-border capital movement. Comment deadline extended from 18 May to 30 Jun 2026.
  • 2026-04-17: Published for comment
  • 2026-06-30: Comment deadline (extended from 18 May)
ZA · draft · the document · not yet re-read from the document by us
Draft Crypto Asset Manual for Cross-Border ActivitiesDepends
A draft, not law yet. A draft under revision; a new version is promised, with no date yet.
Draft Crypto Asset Manual for Cross-Border Activities, published 3 Aug 2026, would require a CASP handling cross-border crypto transfers to hold separate SARB authorisation, with reporting duties and per-transaction limits, and would regulate flows involving foreign CASPs and self-hosted wallets. As reported (not yet independently confirmed against this primary document), the draft would bar registered companies from cross-border crypto payments entirely, including supplier settlements, capping individuals at R5,000/day and R25,000/month. On 21 Oct 2026 (Medium-Term Budget Policy Statement) the Finance Minister said a different approach is needed after thousands of comments: a revised draft will follow, moving away from pre-approvals towards assessing transactions for legitimacy and tax compliance. It is not withdrawn.
  • 2026-08-03: Published as a draft
  • 2026-09-30: Comment deadline
  • 2026-10-21: Finance Minister: a revised draft will follow, away from pre-approvals (MTBPS)
ZA · draft · the document · not yet re-read from the document by us
Instant Payments Regulation (EU) 2024/886Does not apply
It covers bank payouts, not stablecoin.
EU · in force · the document · read 2026-10-18 (Articles 5a to 5c of the text on EUR-Lex)
Transfer of Funds Regulation (EU) 2023/1113 (travel rule)Does not apply
Neither side of this payout is in the EU.
EU · in force · the document · read 2026-10-18 (Article 40 of the text on EUR-Lex)
MiCA (EU) 2023/1114: end of the transition for crypto-asset service providersDoes not apply
Neither side of this payout is in the EU.
EU · in force · the document · read 2026-10-18 (Articles 143 and 149 of the text on EUR-Lex)
Resolução BCB 521/2025: stablecoins as foreign exchangeDoes not apply
Neither side of this payout is in BR.
BR · in force · the document · found 2026-10-23 in search results on bcb.gov.br (press note, Nov 2025 presentation); the document itself is blocked from our collector: document not read by us
Resolução BCB 521/2025: USD 100,000 per payment when the counterparty is not FX-authorisedDoes not apply
Neither side of this payout is in BR.
BR · in force · the document · found 2026-10-23 in search results on bcb.gov.br: the Voto 158/2025 proposal and BCB summaries; the published article is blocked from our collector: document not read by us
Resolução BCB 519/2025: virtual asset service providers need BCB authorisationDoes not apply
Neither side of this payout is in BR.
BR · in force · the document · found 2026-10-23 in search results on bcb.gov.br; the transition deadlines were not read; the document itself is blocked from our collector: document not read by us
Resolução BCB 584/2026: transfers to or from self-custody wallets of USD 10,000 or moreDoes not apply
Neither side of this payout is in BR.
BR · in force · the document · found 2026-10-23 in search results on bcb.gov.br: Votos 90/2026 and 107/2026; the resolution itself is blocked from our collector: document not read by us
Income-tax Act section 194S: 1% tax deducted on virtual digital asset transfersDoes not apply
Neither side of this payout is in IN.
IN · in force · the document · found 2026-10-19 in search results on incometaxindia.gov.in; the document itself is blocked from our collector: document not read by us
Banxico Circular 4/2019: virtual assets at banks and fintech institutionsDoes not apply
Neither side of this payout is in MX.
MX · in force · the document · found 2026-10-19 in search results on banxico.org.mx; the document itself is blocked from our collector: document not read by us
BSP Circular 1108: virtual asset service providersDoes not apply
Neither side of this payout is in PH.
PH · in force · the document · found 2026-10-19 in search results on bsp.gov.ph; the document itself is blocked from our collector: document not read by us
POJK 27/2024: crypto assets under OJKDoes not apply
Neither side of this payout is in ID.
ID · in force · the document · found 2026-10-19 in search results on ojk.go.id; the document itself is blocked from our collector: document not read by us

Source: each rule's own official document. Where the document could not be read, the rule says so.

Dates ahead

  • 2027-01-09: Instant Payments Regulation (EU) 2024/886: Providers in EU states outside the euro: receive instant euro transfers
  • 2027-07-09: Instant Payments Regulation (EU) 2024/886: Providers in EU states outside the euro: send instant euro transfers

Already passed

  • 2026-10-21: Draft Crypto Asset Manual for Cross-Border Activities: Finance Minister: a revised draft will follow, away from pre-approvals (MTBPS)
  • 2026-10-01: Resolução BCB 584/2026: transfers to or from self-custody wallets of USD 10,000 or more: In force (date from the text cited in Voto 107/2026; the published resolution was not read)
  • 2026-09-30: Draft Crypto Asset Manual for Cross-Border Activities: Comment deadline
  • 2026-08-03: Draft Crypto Asset Manual for Cross-Border Activities: Published as a draft
  • 2026-07-01: MiCA (EU) 2023/1114: end of the transition for crypto-asset service providers: Latest end of the transition: MiCA authorisation needed
  • 2026-06-30: Draft Capital Flow Management Regulations: Comment deadline (extended from 18 May)
  • 2026-05-04: Resolução BCB 521/2025: stablecoins as foreign exchange: Reporting of these operations to the BCB starts
  • 2026-04-17: Draft Capital Flow Management Regulations: Published for comment
  • 2026-02-02: Resolução BCB 521/2025: stablecoins as foreign exchange: In force
  • 2026-02-02: Resolução BCB 521/2025: USD 100,000 per payment when the counterparty is not FX-authorised: In force
  • 2026-02-02: Resolução BCB 519/2025: virtual asset service providers need BCB authorisation: In force; transition for firms already operating begins
  • 2026-01-20: POJK 27/2024: crypto assets under OJK: Transition formally ended
  • 2025-11-10: Resolução BCB 521/2025: stablecoins as foreign exchange: Published, with Resoluções 519 and 520
  • 2025-11-10: Resolução BCB 519/2025: virtual asset service providers need BCB authorisation: Published
  • 2025-10-09: Instant Payments Regulation (EU) 2024/886: Euro-area providers: send instant euro transfers; verification of payee
  • 2025-01-10: POJK 27/2024: crypto assets under OJK: OJK takes over from Bappebti; POJK 27/2024 applies
  • 2025-01-09: Instant Payments Regulation (EU) 2024/886: Euro-area providers: receive instant euro transfers; same charge as ordinary transfers
  • 2024-12-30: Transfer of Funds Regulation (EU) 2023/1113 (travel rule): Applies
  • 2024-12-30: MiCA (EU) 2023/1114: end of the transition for crypto-asset service providers: Applies to crypto-asset service providers
  • 2022-07-01: Income-tax Act section 194S: 1% tax deducted on virtual digital asset transfers: In force
  • 2021-01-26: BSP Circular 1108: virtual asset service providers: Issued
  • 2019-03-08: Banxico Circular 4/2019: virtual assets at banks and fintech institutions: Published in the Diario Oficial

Is a stablecoin route lawful for a business here?

Per country, as of 2026-10-31. A pointer to each regulator's own documents, not legal advice. Facts marked read: false were not read from here (the hosts are denied from our build sandbox): the instrument's name and date as published, to confirm in the document. Where we hold no primary source the answer is not_established, with the reason. Crypto licensing and exchange control are separate questions; a licensed provider does not make a company's cross-border payment lawful under exchange control.

South Africa: Restricted. Crypto asset services need an FSCA licence; a company's cross-border payment over a stablecoin has no provided path in exchange control, and the 2026 drafts would keep companies out.
  • Through a crypto asset service provider licensed by the FSCA (crypto assets are a financial product under FAIS).
  • Exchange control: under the April and August 2026 drafts as published, only individuals may move crypto abroad through an authorised CASP; a company has no provided path. Until the drafts are final, ask your authorised dealer before any stablecoin leg.

Exchange control: Currency and Exchanges Act and the SARB's Currency and Exchanges Manual; a company's crypto leg is not provided for.

Mozambique: Not established. No Banco de Moçambique rule licensing crypto or stablecoin service providers, or allowing a business to settle a cross-border payment with one, was read: bancomoc.mz is denied from the build sandbox and no such instrument is held here.

Exchange control: Banco de Moçambique administers the foreign exchange law; how it treats a stablecoin leg is not established.

Zambia: Not established. No Bank of Zambia or Securities and Exchange Commission instrument that licenses crypto service providers or allows a business to settle a cross-border payment over a stablecoin was read: boz.zm is denied from the build sandbox and no such instrument is held here.

Exchange control: Zambia has no exchange controls on current payments as far as we hold; whether a stablecoin leg is treated as a payment service needing Bank of Zambia designation is not established.

Zimbabwe: Not established. No Reserve Bank of Zimbabwe instrument allowing a business to settle a cross-border payment over crypto or a stablecoin was read: rbz.co.zw is denied from the build sandbox.

Exchange control: Exchange Control Act (Chapter 22:05) and the RBZ's exchange control directives govern cross-border payments; their treatment of a stablecoin leg is not established.

Malawi: Not established. No Reserve Bank of Malawi instrument licensing crypto service providers or allowing a business to use one for a cross-border payment is held here; none was found on rbm.mw's home page from here.

Exchange control: The Reserve Bank of Malawi administers exchange control; its treatment of a stablecoin leg is not established.

Namibia: Not established. Namibia licenses virtual asset service providers, but whether a business may settle a cross-border payment over a stablecoin under the Common Monetary Area's exchange control is not established from a primary source held here.

Exchange control: Exchange control in the Common Monetary Area, administered by the Bank of Namibia; its treatment of a stablecoin leg is not established.

Botswana: Lawful, with conditions. Lawful through a virtual asset service provider licensed by NBFIRA; Botswana has no exchange controls.
  • Through a virtual asset service provider licensed by NBFIRA under the Virtual Assets Act, 2022.
  • Anti-money-laundering duties of the provider apply (customer identification, travel of payer and payee information).

Exchange control: None: Botswana abolished exchange controls in February 1999.

Kenya: Not established. Kenya enacted a licensing law for virtual asset service providers in 2025, but whether licences are being issued, and so whether a licensed route exists for a business today, is not established from a primary source read here.

Exchange control: None on current payments (liberalised in the 1990s); the Central Bank of Kenya's foreign exchange guidelines apply to banks and bureaus.

Nigeria: Not established. Digital asset service providers are registered by the SEC and banks may serve them, but whether a business may settle an import or other cross-border payment over a stablecoin under the CBN's foreign exchange rules is not established from a primary source read here.

Exchange control: CBN Foreign Exchange Manual (4th edition, 2026) governs eligible transactions through authorised dealers; a stablecoin leg is not provided for in what we hold.

Ghana: Not established. No Bank of Ghana or SEC Ghana instrument licensing virtual asset service providers, or allowing a business to settle a cross-border payment over a stablecoin, was read: bog.gov.gh is denied from the build sandbox and no such instrument is held here.

Exchange control: The Bank of Ghana's foreign exchange rules govern cross-border payments (e.g. its rules on advance payments for imports); their treatment of a stablecoin leg is not established.

Netherlands and the EU: Lawful, with conditions. Lawful through a crypto-asset service provider authorised under MiCA, with a stablecoin that is an e-money token from an EU-authorised issuer; the travel rule applies.
  • Through a crypto-asset service provider authorised under MiCA (in the Netherlands by the AFM; the Dutch transition for registered providers ended on 30 June 2025).
  • The stablecoin must be an e-money token or asset-referenced token whose issuer is authorised in the EU (MiCA Titles III and IV); a provider may not offer a non-compliant one to EU clients.
  • The Transfer of Funds Regulation's travel rule: payer and payee information travels with every crypto-asset transfer.

Exchange control: None.

Hong Kong: Lawful, with conditions. Lawful through an SFC-licensed virtual asset trading platform; fiat-referenced stablecoin issuers need an HKMA licence. No exchange controls.
  • Through a virtual asset trading platform licensed by the SFC.
  • A fiat-referenced stablecoin offered in Hong Kong comes from an issuer licensed by the HKMA under the Stablecoins Ordinance.

Exchange control: None.

China (mainland): Prohibited. Virtual currency business activities are illegal financial activities on the mainland; no lawful stablecoin route for a business.

Exchange control: SAFE's foreign exchange administration governs cross-border payments through banks.

As JSON: /api/v1/corridors/legal (or ?country=MZ).

Who can carry it

Who holds, converts, assesses and fixes a payout in each country, by licence: coverage →. For the cost and the way to send one payout: ask the guide →.

13 rules so far, added only from their own documents; a draft is never shown as law. Information, not legal advice: the document decides, and your accountant or lawyer can say how it applies to you. Data as JSON: /api/v1/rules. A rule missing or wrong? hello@swapeazi.io