South African court rules that transferring Bitcoin abroad constitutes capital export

According to IOL, the South African Gauteng High Court has ruled that Bitcoin is classified as "capital" and "currency" under South Africa's foreign exchange control system, and has confiscated nearly 6 million rand worth of Bitcoin assets. Between January 2018 and March 2020, a trader transferred approximately 1,680 Bitcoin through a Luno account to wallets on overseas-registered crypto exchanges, which the court found to be a violation of foreign exchange control regulations. Last month, the South African Ministry of Finance released a draft for public comment on the 2026 capital flow management plan, intending to strengthen cross-border capital flow management.