Business Day Spotlight
PODCAST | Is it time to start regulating cryptocurrency?
Governments around the world, including South Africa, look to regulate this largely unconventional asset class
With governments looking at putting rules and regulations on the trading of cryptocurrencies, we look at the implications of such developments in this edition of the Business Day Spotlight.
Our host Mudiwa Gavaza is joined by Saliegh Salaam, a senior portfolio manager at Old Mutual Investment Group.
Bitcoin, the world’s most famous cryptocurrency, has undergone a transformation in public perception in recent years, experiencing a rally in its price, especially during the pandemic. Traditionally, investors have viewed it as being risky, unstable and associated with online criminal activity.
The tide seems to be turning with growing interest from governments, as well as institutional investors.
Join the discussion:
Salaam says cryptocurrencies have largely escaped regulation as their popularity continues to attract huge speculative investments on price — $1.7-trillion (R26-trillion) to date — in the hope of quick riches. However, those days appear to be numbered as governments around the world, including South Africa, look to regulate this largely unconventional asset class.
On Friday, bitcoin was trading at R724,116 — 68% stronger than the start of the year.
Topics of discussion include: the rise cryptocurrencies; growing rebellion against traditional financial systems; how governments and institutional investors have responded to cryptocurrencies over the years; the move towards regulating digital currencies and alternative payments; how investors can benefit from rising cryptocurrency prices and technology in a way that mitigates their risk; and an outlook of how increasing regulation is likely to affect the market globally.
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• Business Day Spotlight is a MultimediaLIVE production.
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