South Africa Crypto Regulations Could Jail Users for Refusing to Share Keys

South Africa's National Treasury has introduced the Draft Capital Flow Management Regulations 2026, which seek to integrate cryptocurrencies into the nation's capital control framework. The proposed rules would require crypto holders to declare assets exceeding specific thresholds and grant officials the power to demand private keys, passwords, or PINs. Failure to comply could result in fines of up to R1 million or five years in prison.

These measures have sparked significant controversy regarding potential conflicts with South Africa's Constitution, specifically concerning the right against self-incrimination and property rights. Critics argue that the policy is an aggressive attempt to control decentralized finance, with public consultation windows currently open for debate before the rules are finalized.

(Source：BeInCrypto)