Wu Shuo learned that the South African Free Market Foundation issued a statement saying that the draft regulation of "Capital Flow Management" (CFM) released by the South African Treasury on April 17 could significantly tighten regulations on cryptocurrencies and gold. The article states that the draft proposes that crypto transactions exceeding a certain threshold must be authorized through a CASP or obtain permission from the Treasury, and may require South African residents to declare their crypto holdings. The article also mentions that the draft involves provisions for purpose declaration, forced sale, disclosure of passwords or encryption keys, warrantless searches and seizures, etc., with violators potentially facing fines of at least approximately $60k, equivalent to the value of the violation, or up to 5 years in prison.