New South African Crypto Regulation Proposal For Travelers Entering Or Leaving The Country: Declare Your Crypto Or Face Jail Time

South Africa proposes new crypto regulations requiring travelers to declare cryptocurrency assets when entering or leaving the country, with penalties including up to 5 years in prison. The National Treasury will update its 1961 Exchange Control Regulations to classify crypto as capital, alongside foreign currencies and gold, granting officials authority to search devices like phones and cold wallets.