"Critics of the Draft Capital Flow Management Regulations 2026, including Steven Sidley and Farzam Ehsani, argue that the proposal could criminalize routine digital asset ownership and drive tech investment away. They emphasize that the regulations are fundamentally flawed, seeking to control decentralized technology using outdated principles from 1961."
"Ehsani described the draft as alarming, noting that it contradicts a decade of positive dialogue between the industry and the Intergovernmental Fintech Working Group. He highlighted the vision of leaders like Nelson Mandela, who advocated for the phasing out of exchange controls, questioning why such destructive policies are being preserved."
The South African National Treasury's proposal to replace outdated capital flow regulations has faced significant backlash from industry leaders. Critics argue that the Draft Capital Flow Management Regulations 2026 could criminalize digital asset ownership and deter tech investment. Prominent figures like Steven Sidley and Farzam Ehsani have expressed concerns that the regulations are based on outdated principles from 1961, treating crypto as a problem rather than an opportunity. The proposed changes contradict a decade of positive industry dialogue and threaten the country's liberalization goals.
Read at news.bitcoin.com
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