According to Wu Blockchain, the Free Market Foundation of South Africa published an article stating that the South African Treasury's draft regulation on 'Capital Flow Management' (CFM), released on April 17, could significantly tighten controls on crypto assets and gold. The article mentions that the draft proposes requiring crypto transactions exceeding a certain threshold to go through authorized CASPs or obtain Treasury approval, and may also require South African residents to declare their crypto holdings. It further notes that the draft includes provisions on usage declarations, forced sales, disclosure of passwords or encryption keys, warrantless searches and seizures, etc. Violators could face fines of at least approximately $60,000 or equivalent to the value of the violation, or up to 5 years in prison. https://(wublock123.com)/news/south-africa-cfm-regulatory-draft-crypto-disclosure-key-surrender-61589