South African Court Treats Bitcoin as Money and Capital for Exchange Controls
In Mangundhla v South African Reserve Bank, a Johannesburg High Court judgment signed June 1 held that Bitcoin is both money and capital under South Africa's exchange-control rules and upheld forfeiture orders arising from transfers to foreign exchanges. The judge expressly rejected a contrary 2025 High Court view; the scope of any appellate resolution was not established in this review.
PARADIGM INSIGHTS:
Conflicting High Court interpretations make it important to state which transaction and rule are at issue rather than treating all crypto assets alike. This domestic ruling does not establish a treaty-recognized international digital dispute institution.
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