VALR co-founder and CEO argues that South Africa should abolish exchange controls and replace them with a modern framework

[mylesillidge]

Apartheid-era law kept alive which is holding South Africa back

VALR co-founder and CEO Farzam Ehsani has argued that South Africa should abolish exchange controls and replace them with a modern framework based on reporting, supervision, and enforcement.

Ehsani made his argument in an opinion piece responding to government’s proposed Capital Flow Management Regulations, which would replace the Exchange Control Regulations of 1961.

 

[shooter69]

Explain to me like I am 5 what these laws has to do with Apartheid?

 

[kwaggawerner]

Clickbait article.

 

[saor]

Explain to me like I am 5 what these laws has to do with Apartheid?

That's just journos using the word to get attention. It's technically not wrong...

which would replace the Exchange Control Regulations of 1961.

As those were apartheid-era laws, but they have nothing to do with apartheid.

 

[Justanotherguybythesea]

The only thing keeping the looters from taking all the money out legally, now they pay another party a cut to do it illegally, they want to steal only for themselves.

 

[Mercury]

That's just journos using the word to get attention. It's technically not wrong...

As those were apartheid-era laws, but they have nothing to do with apartheid.

It would make more sense to refer to them as colonial laws. , since the regulations are issued under the Currency and Exchanges Act (Act No. 9 of 1933).

 

[HumanShield]

There was a modern framework. They said your bitcoin will belong to the state. It's as modern as modern times

 

[Jan]

That's just journos using the word to get attention. It's technically not wrong...

As those were apartheid-era laws, but they have nothing to do with apartheid.

This is technically incorrect.

As Ehsani explained, part of ExCon's function was to prevent capital flight during the sanction years.

 

[saor]

This is technically incorrect.

As Ehsani explained, part of ExCon's function was to prevent capital flight during the sanction years.

I'm still not sure what this has to do with apartheid. That they had certain views on capital during apartheid doesn't imply that those views were tied to 'institutionalized racial segregation'. Or am I missing something here?

 

[Jan]

I'm still not sure what this has to do with apartheid. That they had certain views on capital during apartheid doesn't imply that those views were tied to 'institutionalized racial segregation'. Or am I missing something here?

As I understand it, the logic goes: Apartheid leads to sanctions, sanctions lead to tighter and tighter ExCon.

 

[Tanarri]

Clickbait title. Very nice.

 

[Swa]

Even Mandela saw they were outdated. It's only the ANC that want to keep on looting couches that keep them alive.

 

[Swa]

I'm still not sure what this has to do with apartheid. That they had certain views on capital during apartheid doesn't imply that those views were tied to 'institutionalized racial segregation'. Or am I missing something here?

More commonly called Apartheid era laws, they would not exist if it wasn't for Apartheid. Sure it didn't have anything to do with segregation but neither did our porn laws back then but it was still because of the thinking of the time.

 

[FiestaST]

https://twitter.com/x/status/2067485064879821048

 

[Fuzzbox]

I don't know if there is 1 African country that doesn't embrace EXCHANGE CONTROL.