National Treasury
Summary
The Free Market Foundation recommends that the draft Capital Flow Management Regulations be withdrawn in their entirety. The National Treasury and SARB should limit themselves to recognising the legitimacy of cryptocurrency as private property and a medium of exchange. No additional regulation is necessary or desirable. Existing FSCA and FIC oversight of CASPs is sufficient. South Africans should be free to acquire, hold, and use Bitcoin and other crypto assets in self-custody without state interference, forced disclosure, or compelled surrender. Only in this way can South Africa protect property rights, foster innovation, attract capital, and avoid becoming a technological and economic backwater.
Contributors
