The South African Financial Intelligence Center has issued Directive No. 9, requiring digital asset platforms to collect and store identity information for cryptocurrency transactions from April 30, 2025. This move is intended to help South Africa get off the gray list of the Financial Action Task Force (FATF) to improve the country's reputation and reduce financial transaction and borrowing costs. 💼

According to the new regulations, the full names and wallet addresses of both parties to the transaction must be recorded, especially when the transaction amount exceeds US$277 (5,000 rand), the requirements are more stringent. Altify CEO Sean Sanders expressed support for this, but questioned that the threshold of US$277 was too low. 🔍

Against the backdrop of increasingly stringent global cryptocurrency regulation, Bitcoin still shows its strong vitality and potential! 🚀