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INSIGHT: Crypto lobbying risks regulatory capture, South African central bank boss tells Davos event

South African Reserve Bank Governor Lesetja Kganyago, looks on during an interview with Reuters in Centurion, South Africa on April 3, 2024 REUTERS/James Oatway/File Photo

By Elizabeth Howcroft and Iain Withers

SURROUNDED by crypto executives buoyed by Donald Trump’s presidency, South Africa’s central bank chief has criticized industry lobbying of U.S. policymakers, telling a Davos panel event that bitcoin made no more sense as a reserve asset than beef or apples.

Other panellists welcomed Trump’s presidency as promising big opportunities for the sector, with Coinbase CEO Brian Armstrong saying Trump’s new term will draw a lot of investment into crypto.

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