Currently not in SA atm but what I can tell you from my interactions with people on the ground is that whilst everyone is concerned and would prefer that the proposals from the central bank concerning self custody be dropped (which most likely they will) I don't think there is any serious Bitcoiner who will pay attention to this regulation if it does pass. Yes the noobs and the exchanges will definitely comply but as with most things in SA when silly things are passed as regs, people just carry on with their lives.
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I’m encouraged by the prevailing culture being non-compliance. We could use more of that grit in the US.
The ruling below by the high court is what got the central banksters to panic bigly and then propose this crazy self custody directive as a way of shutting the exits. With regards to non compliance, it's also partly a by product of having seen a ton of silly laws passed which were ignored lol but I'm sure truly free people everywhere don't comply with tyrannical regulations, even on your side of the pond 😁 That said, there is still an organized effort that also includes some of the exchanges (cz they know that P2P alternatives will replace them if they do nothing 😂) to fight this proposal legally.

Is Cryptocurrency subject to exchange control? | 2025 News | News and Events | PKF South Africa
Is Cryptocurrency subject to exchange control?