[Luno Officially Challenges South Africa's Proposed Capital Flow Regulation Rules] Odaily Planet Daily News: Cryptocurrency exchange Luno has officially challenged South Africa's proposed foreign exchange law reforms, arguing that the National Treasury's plan to include digital assets in capital flow regulations bypasses Parliament and affects the property and privacy rights of millions of South Africans. In its submitted documents, Luno pointed out that the draft includes provisions for asset seizure without court orders, forced liquidation, and sanctions that could lead to business termination. Violators could face up to 5 years in prison, a $53,000 fine, or both. Luno recommends establishing a final crypto capital flow framework through a parliamentary bill, recognizing crypto assets purchased and held on licensed exchanges in South Africa as domestic assets, and categorizing different types of digital assets based on their economic functions. Luno also suggests removing mechanisms for forced sales and warrantless asset seizures, and allowing non-resident international trading companies to continue entering the South African market under proper registration to maintain market liquidity.