Is your property still your own?
Info supplied by Dear South Africa:
The Draft Capital Flow Management Regulations was recently released that could fundamentally shift the legal relationship between you and your private property. While it’s being discussed in may circles as a ‘crypto crackdown’, the fine print reveals that this is about EVERYTHING you own.
If you own a home, hold physical gold, or have ever created a piece of intellectual property, these regulations affect you. The draft defines ‘capital’ as ‘anything with a monetary value’, including intellectual property and anything that can be converted to money.
Red Flags:
Your Home—Treasury can ‘attach’ your land or home based on mere ‘reasonable grounds to suspect’ a technical contravention. This attachment can be noted directly against your title deed, freezing your ability to sell or bond your own property.
Your Gold—If you own gold (beyond jewellery or coins) above a ‘determined threshold’, you are legally required to offer it for sale to Treasure within 30 days. The state fixes the price.
Your Privacy—In a move that feels like a significant erosion of personal freedom, Regulation 25(5) requires you to hand over all passwords, PINs, or private codes to the State if they decide to forfeit your assets.
Have your say right away. This is your opportunity to weigh in. We aren’t just fighting for digital assets, we are fighting for the principle that what you earn and own belongs to you, not the State.
Make your voice heard before this draft becomes the law. Link below.
