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$329M from Microsoft to grow AI in South Africa.
Meanwhile, the government canโt even publish an AI policy without fake sources or anyone proofreading it.
Investors believe in South Africa.
But the people running it risk ruining that trust. We need better leaders!
๐ฟ๐ฆ 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 Africaโs decades-old exchange control system.
This is wild. This kills cross border building and just scares away capital. Iโm so angry at our Governments. They keep running the same playbook thatโs been holding South Africa back for years, control everything, fix nothing.
Forcing people to disclose crypto, restrict how they use it, and even force sell it back into rand? Like wtf.
What are the real motives here?
Capital flight fears? Weakening rand? Or just trying to box people into a system theyโre losing control over?
South African Reserve Bank and National Treasury of South Africa need to explain why innovation is being treated like a threat instead of an opportunity.
This doesnโt protect people, it pushes them out of the system entirely.
The most likely explanation for Trump's Truth Social lies about Iran on Friday, is market manipulation. If so, Trump insiders must have made billions. The next likely possibility is that Trump is either delusional, incompetent, or a combination of both. Either way it's not good.