The South African government is proposing regulations that would essentially ban Bitcoin in South Africa 🇿🇦
The regulations resemble U.S. Executive Order 6102, which made it a criminal offense for U.S. citizens to own or trade most forms of gold.
And because the language in the regulations is vague, they could potentially give the South African government sweeping authority to do everything from pushing for forced confiscation of bitcoin to only allowing bitcoin transactions through regulated entities that require KYC/AML.
The good news is that South African Bitcoiners, including Hermann Vivier ( @vryfokkenou ) of @BitcoinEkasi and groups like the Property Rights Defense Group are pushing back.
I recently sat down with Hermann to discuss:
⚡️ The details of the regulations and why the South African government has proposed them
⚡️ What exactly South Africans are doing to push back
⚡️ Why what's happening in South Africa right now is a canary in the coal mine moment
⚡️ Why Hermann is optimistic that Bitcoiners will win
This is an important listen for anyone who supports bitcoin and property rights as well as the idea of being able to transact P2P without having to disclose your identity.
#bitcoin #southafrica #p2p #p2prights




