# Economist Dawie Roodt says South Africa risks driving people away from the rand if exchange controls on cryptocurrencies are tightened. Speaking to BizNews, Roodt criticised proposed Treasury regulations that could require crypto holders to declare assets and, in some cases, sell them to the state. He argued that blockchain technology makes traditional exchange controls difficult to enforce. Meanwhile, National Treasury says the draft regulations are aimed at preventing illicit financial flows and not at undermining private ownership of digital assets.
Tighter Crypto controls could push South Africans away from the Rand