"Bitcoin, if false, is of no importance, and if true, of significant importance. The only thing it cannot be is moderately important."
- paraphrasing CS Lewis on Christianity.
@SentinelfromSA@ProfTimNoakes Then they tell they will help by giving you a "fuel levy relief"... Rather just say "we'll steal a little bit less from you this month"
Now the part that should concern you even if you have never owned Bitcoin.
A government that requires you to declare your assets, then dictates how you may use them, then reserves the right to compel surrender of the keys that control them, has not recognised your property rights.
It has tolerated them, conditionally.
@AlexAuroraDev@litecoin Take it from Charlie Lee (Litecoin founder)
“Buy Bitcoin. Store it away. Don’t sell anything. Don’t do anything else related to Crypto”.
Newly proposed regulations could force South Africans to sell their gold, foreign currency, and crypto assets to the National Treasury if they exceed a threshold set by the Finance Minister.
https://t.co/vaDmS8ASBo
@XRPRebel66@greybtc@RealXavier011@grok Sadly, this is 100% true. Draft regulations can be read on official government websites. Many South Africans have posted about it and shared links over the last couple of days.
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National Treasury has proposed giving itself the power to expropriate people's crypto assets should they hold more than a certain amount. https://t.co/e2atcWV1iN
🚨 THREAD: SA's National Treasury & SARB want to effectively end self-custody of crypto at meaningful scale.
No parliamentary vote needed. Just ministerial decree. Comment window closes 16 May 2026.
Here's what's at stake. 🧵
🇿🇦 SOUTH AFRICA PROPOSES INSANE CRYPTO CONTROLS, POSSIBLE FORCED SALES
South Africa National Treasury and South African Reserve Bank have introduced draft Capital Flow Management Regulations that could dramatically restrict crypto use.
The proposal would require disclosure of crypto holdings above an unspecified threshold and could allow the government to force holders to sell assets for rand.
Under the draft, investors may not buy, sell, lend, or transfer crypto above the threshold without permission, except through approved providers.
Transactions would require a stated purpose, and using funds outside that purpose could trigger mandatory resale.
Cross-border transfers and payments using crypto would be banned without approval.
Authorities would also gain powers to search individuals, demand declarations, and seize assets suspected of violating the rules.
Critics say the changes raise serious constitutional concerns around privacy, property rights, and freedom of association, calling them among the most aggressive updates to South Africa’s decades-old exchange control system.
@BitcoinEkasi@MoneyBadgerPay Coffee and afternoon snack, bought and paid for with bitcoin. I wonder if this will be one of those stories 10 years down the line.. "you spent HOW MANY sats!?!"
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@Lesufi We have a lady that cleans for us. Somehow she got into debt. I have to pay her cash because debt collectors just take any money that hits her bank account, and if that happens she can't feed her family. Society going cashless is a horrible solution.