Bitcoin "under attack in South Africa" as Treasury draft rules tighten crypto oversight

Bitcoin is facing mounting pressure in South Africa, according to Gazza Jenks (@gazza_jenks), Head of Multimedia at The Block (@theblockco), who highlighted draft regulations circulated by the country's Treasury Department. Jenks said the proposal would significantly tighten controls on crypto activity, potentially requiring individuals to declare holdings above a specified level, seek approval to trade beyond set thresholds, and share private keys with the government.