According to IOL, the South Gauteng High Court in Johannesburg, South Africa, has ruled that Bitcoin can be classified as 'capital' and 'currency' under South Africa's foreign exchange control regulations. Transferring $BTC to overseas exchanges or wallets accessible abroad may be considered capital outflow and requires approval from the South African Treasury. Additionally, the court dismissed the appeal of two crypto traders, upholding the South African Reserve Bank's order to confiscate nearly 6 million rand (approximately $370,000) in assets. The case involved around 1,680 BTC being transferred to wallets accessible on foreign exchanges, valued at approximately $11.2 million at the time. https://(wublock123.com)/news/south-africa-court-btc-transfers-to-foreign-exchanges-capital-outflow-approval-required-62098