According to IOL, the South Gauteng High Court in Johannesburg, South Africa, ruled that Bitcoin can be classified as "capital" and "currency" under South Africa's foreign exchange control regulations, and transferring BTC to an overseas exchange or an accessible wallet abroad may be considered capital outflow, requiring approval from the South African Treasury. Additionally, the court dismissed the appeals of two cryptocurrency traders, upholding the South African Reserve Bank's asset confiscation order of nearly 6 million rand (approximately $370k). The case involved about 1,680 BTC transferred to wallets accessible on overseas exchanges, valued at approximately $11.2 million at the time.