𝗦𝗢𝗨𝗧𝗛 𝗔𝗙𝗥𝗜𝗖𝗔 𝗠𝗔𝗬 𝗕𝗘 𝗥𝗘𝗧𝗛𝗜𝗡𝗞𝗜𝗡𝗚 𝗜𝗧𝗦 𝗖𝗥𝗬𝗣𝗧𝗢 𝗥𝗨𝗟𝗘𝗦 South Africa's proposed exchange-control reforms faced criticism for potentially imposing strict approval requirements and reporting obligations on cross-border crypto transfers, including transactions involving self-custody wallets. Following thousands of public submissions, Finance Minister Enoch Godongwana announced on 21 October that Treasury is reconsidering its approach. Instead of requiring prior approval, the revised framework could focus on verifying transactions, their legitimacy, and tax compliance. 𝗦𝗨𝗠𝗠𝗔𝗥𝗬 South Africa isn't abandoning exchange controls or crypto regulation. It's reconsidering how those rules should apply to digital assets. A revised draft is expected to be published for further public comment.