PANews reported on June 3 that, according to IOL, the Gauteng High Court in South Africa ruled that Bitcoin falls under South Africa's foreign exchange control regime as "capital" and "currency," and ordered the confiscation of nearly 6 million rand in Bitcoin assets. The court ruled that a trader transferred nearly 1,680 Bitcoins through his Luno account to a wallet accessible only through overseas-registered cryptocurrency exchanges between January 2018 and March 2020. This was considered equivalent to exporting capital abroad without the Ministry of Finance's approval, violating foreign exchange control regulations.

Meanwhile, South Africa’s Treasury released a draft of its 2026 Capital Flows Management Act for public comment last month, aiming to modernize the management of cross-border capital flows by reducing pre-approval for transactions, strengthening reporting and monitoring of high-impact, high-risk cross-border transactions.