According to a Bloomberg report, the South African Reserve Bank warned in its newly released *Financial Stability Assessment Report* that the current lack of a comprehensive regulatory framework covering crypto assets and stablecoins has become a new financial stability risk. Due to the fully digital and cross-border circulation characteristics of such assets, they may evade existing foreign exchange control measures. At present, the South African central bank is cooperating with the Ministry of Finance to formulate new regulations for cross-border crypto asset transactions and plans to revise foreign exchange control laws to include crypto assets and stablecoins within the regulatory scope.