Lesetja Kganyago, Governor of the South African Reserve Bank (SARB), has warned that soaring cryptocurrency prices may represent “asset bubbles” forming in local and global markets.
Speaking at a financial stability event, Lesetja Kganyago emphasized the need for robust regulation to safeguard investors and prevent systemic risks. While South Africa is one of the few African nations with a structured crypto licensing framework, Kganyago’s remarks suggest authorities remain cautious about rapid crypto growth.
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His comments come amid a surge in retail participation and institutional interest in South Africa’s crypto sector. While regulation is often seen as restrictive, proponents argue it provides long-term legitimacy and ensures sustainable growth of digital assets.
The statement underscores the tension between innovation and oversight as African markets seek to balance financial inclusion with stability.
