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Displaying the 15 latest comments.
Submitted | first-name | support | concern | top-concern | message |
|---|---|---|---|---|---|
2026-08-28 15:51:06 +02:00 | S | No I do not | All of the above | Privacy & Self-Incrimination: Surrender of Passwords/Private Keys | |
2026-08-28 08:11:42 +02:00 | Idah | No I do not | Privacy & Self-Incrimination: Surrender of Passwords/Private Keys | ||
2026-08-27 07:00:16 +02:00 | Mikael | No I do not | Other | ||
2026-08-27 06:37:59 +02:00 | Carina | No I do not | All of the above | Regulatory Overreach: Defining 'Anything of Value' as Capital | Discrimination against partially black owned businesses who have followed B-BBEE guidelines for more than 20 years. |
2026-08-26 07:30:09 +02:00 | Luvuyo | No I do not | All of the above | Regulatory Overreach: Defining 'Anything of Value' as Capital | This whole thing is deeply troubling and seems like its based on these new European government/legal over-reaches. Privacy is sacred and no modernization or globalist legal trend should threaten that. |
2026-08-25 15:37:43 +02:00 | Bernice | No I do not | All of the above | Regulatory Overreach: Defining 'Anything of Value' as Capital | We cannot trust the people ''in charge'' and now they want us to hand over our Pin numbers and Passwords. you must be kidding me. When we wipe the sleep out of our eyes our bank accounts will have been cleaned out |
2026-08-23 22:37:47 +02:00 | Sharlene | No I do not | Regulatory Overreach: Defining 'Anything of Value' as Capital | ||
2026-08-20 08:35:30 +02:00 | Ntombifuthi | No I do not | Property Security: Attachment of Land & Title Deed Noting | ||
2026-08-18 16:21:38 +02:00 | Ema | No I do not | Other | ||
2026-08-15 16:04:13 +02:00 | THEMBANI | No I do not | Other | IT IS TOTALLY UNFAIR FOR THE GOVERNMENT TO INTERFERE IN HOW OR HOW NOT CITIZENS SHOULD GROW THEIR WEALTH OR FINANCES. CRYPTOCURRENCY IS A TOOL LIKE ANY OTHER TOOL, INDIVIDUALS SOULD BE ALLOWED TO USE IT WITHOUT INTERFERENCE, TO GROW THEIR FINANCES AT PEACE, LIKE IT IS HAPPENING WITH MININGS, FARMING AND OTHER BUSINESSES. WHY MUST IT BE RESERVED FOR BANKS ONLY, TO KEEP CITIZENS IMPOVERISHED? BANKS USE THEIR CLIENTS' MONEY TO ACCUMULATE WEALTH FOR THEMSELVES, AND GIVE THEIR CLIENTS NOTHING IN RETURN, AND THE GOVERNMENT IS HAPPY ABOUT THAT. THIS IS WRONG, PERIOD!!! | |
2026-08-11 17:14:29 +02:00 | Maria | No I do not | Regulatory Overreach: Defining 'Anything of Value' as Capital | ||
2026-08-08 19:15:22 +02:00 | Greg | No I do not | All of the above | Regulatory Overreach: Defining 'Anything of Value' as Capital | . |
2026-08-08 19:12:37 +02:00 | Greg | No I do not | All of the above | Regulatory Overreach: Defining 'Anything of Value' as Capital | |
2026-08-08 19:11:59 +02:00 | Greg | No I do not | All of the above | Regulatory Overreach: Defining 'Anything of Value' as Capital | |
2026-08-07 21:29:15 +02:00 | Dave | No I do not | All of the above | Regulatory Overreach: Defining 'Anything of Value' as Capital | No thanks you. That which i have worked for, obtained legally, inherited and are legally my property, will remain mine. I will not dish out the " freebees" you dream about. Wake up. I will keep my freedom |
Supporters of the draft regulations, primarily the National Treasury and the South African Reserve Bank (SARB), argue that these changes are a vital step toward a modern financial system.
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- Modernizing Outdated Laws: The current regulations are over 60 years old and were written long before the internet or digital assets existed. Moving to a “risk-based” system allows the State to focus on high-risk, high-value movements of money rather than policing every small transaction.
- Global Security & Compliance: To stay off international “grey lists” (like FATF), South Africa must prove it can track and stop money laundering and the financing of terrorism. Explicitly regulating crypto assets as “capital” closes a loophole often used by illicit actors to move wealth undetected across borders.
- Protecting the South African Rand (ZAR): Uncontrolled capital flight—where billions in value leave the country via digital wallets—can destabilize the national currency. These regulations ensure the State has the visibility needed to manage economic stability.
- Building a Regulated Fintech Industry: By creating a formal “Authorised Crypto Asset Service Provider” (ACASP) category, the State is providing a legal pathway for legitimate businesses to operate, which they argue will actually attract institutional investment.
Opponents, including civil society groups, legal scholars, and “Bitcoiners,” argue that the draft is a radical overreach that compromises the Bill of Rights.
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- A “Privacy Death-Knell”: Granting enforcement officers the power to search personal devices for digital “control” at borders is viewed as a massive violation of the Section 14 right to privacy.
- Forced Self-Incrimination: Regulation 25(5), which compels citizens to hand over private keys and passwords, is highly controversial. Critics argue this forces individuals to provide the evidence for their own financial “prosecution,” violating Section 35 of the Constitution.
- De Facto Expropriation: The power of the Treasury to “attach” assets based on mere suspicion—without a criminal trial—and the ability to force the sale of private crypto into ZAR is seen by many as a violation of property rights.
- Stifling the “Digital Gold” Economy: Critics argue that treating a borderless technology like Bitcoin as if it were physical gold will drive innovation and young tech talent out of South Africa. They fear these “permission-based” rules will make South Africa an uncompetitive “digital island”.