South Africa's Treasury has released a draft of the Capital Flow Management (CFM) regulations, potentially tightening controls on cryptocurrencies and gold. The proposal, dated April 17, mandates that crypto transactions exceeding a certain threshold must be conducted through authorized Crypto Asset Service Providers (CASPs) or require Treasury approval. Additionally, South African residents may be required to declare their crypto holdings. The draft includes provisions for usage declarations, mandatory sales, disclosure of passwords or encryption keys, and warrantless searches and seizures. Violations could result in fines of at least $60,000 or equivalent to the value of the infraction, and up to five years of imprisonment.