Ridiculous crypto draft regulations

[saor]

Got this email from VALR:

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You may be impacted by regulations: Act now​

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South Africa’s National Treasury and the South African Reserve Bank have published draft regulations which, if passed, could significantly impact you.

 

The 88-page draft proposal would affect South African resident individuals and entities:

 

Individuals: Transfers of crypto assets from personal wallets to South African crypto providers, like VALR, would be prohibited. You would still be able to withdraw crypto to your self-custodial personal wallet, but bringing those assets back to a regulated South African exchange would be “non-permissible”.

Daduq is the point of this backwards nonsense. You want to keep your crypto safe & in your control, but in doing so you prevent yourself from ever trading back to fiat in this country?

Mind boggling that these clowns don't want to make this whole thing easy and earn tax on it instead.