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According to Foresight News, as reported by Bitcoin.com, the South African Financial Intelligence Centre has issued Directive No. 9, requiring digital asset platforms to collect and store identity information for cryptocurrency transactions. This directive will come into effect on April 30, 2025, aimed at helping South Africa remove itself from the Financial Action Task Force (FATF) grey list. This grey list will affect the country's reputation, increase financial transaction costs, and raise borrowing costs. According to the instructions, the full names and wallet addresses of both parties in the transaction must be recorded, especially when the transaction amount exceeds $277 (5000 rand), the requirements are even stricter. Altify's CEO Sean Sanders expressed support for regulatory development, but questioned setting a threshold of $277, calling it the lowest in the world.