Foresight News reports, according to Bitcoin.com, the South African Financial Intelligence Centre has issued Directive No. 9, requiring digital asset platforms to collect and store identification information for cryptocurrency transactions. This directive will take effect on April 30, 2025, and aims to help South Africa be removed from the Financial Action Task Force (FATF) gray list. This gray list affects the country's reputation, increases the cost of financial transactions, and raises borrowing costs. According to the directive, the full names and wallet addresses of both parties in a transaction must be recorded, particularly when the transaction amount exceeds $277 (5,000 rand), where the requirements are stricter. Sean Sanders, CEO of Altify, expressed support for regulatory developments but questioned the setting of the $277 threshold, calling it the global minimum.