South Africa Draft Risks Forced Bitcoin Liquidations as Price Holds Below $78K

South Africa’s “Capital Flow Management 2026” draft proposes forcing residents to declare and sell crypto assets above thresholds to the National Treasury in rand within 30 days, with payments via authorized dealers. Published April 20 to align with FATF rules post-2023 greylisting (lifted 2025), it caps buy/sell/lend/transfer amounts, requires permissions for offshore moves, and enables enforcement like freezes—forcing backlash from Bitcoin advocates over curtailed self-custody. BTC consolidates just under $78,000, facing tail risks of local selling pressure and liquidity drops.