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Displaying the 15 latest comments.
Submitted | first-name | support | concern | top-concern | message |
|---|---|---|---|---|---|
2026-09-17 14:47:52 +02:00 | Andre | No I do not | All of the above | Privacy Overreach & Permanent Ledger Tracking (POPIA / Section 14) | |
2026-09-17 14:47:48 +02:00 | Jaco | No I do not | All of the above | Privacy Overreach & Permanent Ledger Tracking (POPIA / Section 14) | I object for state overreach into my crypto assets. |
2026-09-17 14:47:14 +02:00 | Margaretha Wilhelmin | No I do not | All of the above | Privacy Overreach & Permanent Ledger Tracking (POPIA / Section 14) | The Government is abusing our citizens rights of privacy of our belongings. This must stop now! |
2026-09-17 14:46:42 +02:00 | Pauline | No I do not | All of the above | The Inward Self-Custody Trap (Banning transfers from non-custodial wallets) | |
2026-09-17 14:46:23 +02:00 | Brian | No I do not | All of the above | The Inward Self-Custody Trap (Banning transfers from non-custodial wallets) | State control is always likely to be abused. It does not seem that anyone, the. government included, really knows the implications of crypto currencies. |
2026-09-17 14:46:10 +02:00 | Marcelle | No I do not | All of the above | Privacy Overreach & Permanent Ledger Tracking (POPIA / Section 14) | |
2026-09-17 14:45:59 +02:00 | Oleg | No I do not | All of the above | The Inward Self-Custody Trap (Banning transfers from non-custodial wallets) | I want the government to stop trying to restrict citizens' rights and freedoms. Virtually every law passed recently entails an attempt to curtail one right or another. |
2026-09-17 14:45:40 +02:00 | Elsie Pells | No I do not | All of the above | Privacy Overreach & Permanent Ledger Tracking (POPIA / Section 14) | |
2026-09-17 14:44:45 +02:00 | Daniel | No I do not | Other | Legislation must clearly exclude physical propery | |
2026-09-17 14:44:40 +02:00 | Evan | No I do not | All of the above | Privacy Overreach & Permanent Ledger Tracking (POPIA / Section 14) | Another case of government over-reach |
2026-09-17 14:44:19 +02:00 | Mohammed | No I do not | The Blanket Prohibition on Corporate/Business Cross-Border Payments | How am I supposed to pay fees to suppliers who only accept crypto | |
2026-09-17 14:43:13 +02:00 | Mychel | No I do not | All of the above | Privacy Overreach & Permanent Ledger Tracking (POPIA / Section 14) | The government should have no connection or control on your money and assets. |
2026-09-17 14:43:09 +02:00 | Fred | No I do not | All of the above | The Blanket Prohibition on Corporate/Business Cross-Border Payments | Eliminate Government interference and involvement in the privacy rights of citizens. |
2026-09-17 14:42:23 +02:00 | Michael | No I do not | The Inward Self-Custody Trap (Banning transfers from non-custodial wallets) | ||
2026-09-17 14:42:08 +02:00 | Howard | No I do not | All of the above | Discrimination Against Technology (Breach of Governor Kganyago's Principle) | Forex controls should be lifted completely-after all its our own money |
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- Curbing Regulatory Arbitrage:
Unregulated cross-border crypto movements undermine the foreign exchange framework. Bringing crypto transactions within standard balance-of-payments reporting ensures that fintech entities face the same compliance oversight as commercial banks. - Defending the Fiscus & National Currency:
In an era of borderless digital finance, untracked capital outflows threaten domestic macroeconomic stability and the South African Rand. Comprehensive surveillance enables FinSurv to track the true volume of capital moving across borders. - Protecting International Financial Standing:
Following South Africa’s removal from the Financial Action Task Force (FATF) grey list, closing cross-border anti-money laundering and counter-terrorist financing (AML/CFT) loopholes is necessary to maintain global banking relationships. - Ensuring Platform Solvency:
Enforcing a minimum unimpaired capital reserve of R5 million and mandating client asset segregation protects everyday consumers from exchange collapses and fraudulent practices. - Structured Industry Pathways:
The manual replaces legal ambiguity with a defined, tiered licensing model (Category 1, 2, and 3), providing institutional legitimacy for compliant operators.
- Curbing Regulatory Arbitrage:
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- Breach of Technology Neutrality:
SARB Governor Lesetja Kganyago stated that “similar payment activities should be subject to similar regulatory expectations, whether they are performed by a bank or a fintech.” The draft manual breaches this principle by permitting businesses to execute international vendor settlements via SWIFT while outright banning the exact same economic transaction if routed through regulated blockchain rails. - The “Cold Storage Trap”:
Classifying inward transfers from non-custodial wallets as non-permissible penalizes the foundational property of public blockchain technology: individual self-custody. It creates a one-way street where citizens can take custody of their digital property, but are legally locked out of the domestic banking system if they ever wish to repatriate it. - Economic Isolation of South African Enterprise:
Banning South African companies and trusts from cross-border crypto rails isolates the domestic tech sector, digital exporters, and Web3 startups from the global digital economy, preventing them from using efficient stablecoin settlement channels. - Threat to Domestic Jobs & Foreign Investment:
The industry-led CATASTROPHE coalition (including VALR, Luno, AltCoinTrader, and EasyEquities) warns that billions of Rands in foreign direct investment into South African fintech have been frozen, putting thousands of skilled jobs and significant corporate and PAYE tax contributions at immediate risk. - Perverse Incentive for Unregulated Flight:
Imposing non-workable restrictions will not stop digital asset usage; it will simply drive liquidity away from compliant domestic exchanges into unregulated offshore peer-to-peer (P2P) networks, blinding both FinSurv and SARS. - Administrative Cart Before the Horse:
Requesting public commentary on operational directives while the parent Capital Flow Management Regulations remain unresolved undermines procedural fairness under PAJA.
- Breach of Technology Neutrality: