At the Finance Magnates Africa Summit:25, a panel discussiontitled “The Future of Crypto, Lessons from Africa” brought together speakers toexamine key developments in the cryptocurrency sector. The panel featuredAndres Felipe Perez, Director of Fintech Services South Africa, as moderator,alongside Hannes Wessels, General Manager South Africa at Binance; Christo deWit, Country Manager South Africa at Luno; Pierre van Helden, Co-Founder andDirector of Business Development at FiveWest; and Callan Richardson, Head ofGrowth at Bitget.The discussion focused on major themes shaping the cryptoindustry, including Bitcoin’s recent price volatility, adoption trends in SouthAfrica, regulatory challenges, and emerging use cases across the Africancontinent.Bitcoin Price Volatility and Key DriversThe session opened with an assessment of Bitcoin’svolatility, with prices ranging between $66,000 and $111,000. The panelattributed this to a combination of institutional interest, excess liquidity,and network-level indicators.The panel emphasized the significance of regulatory progressin the United States: "The approval of the spot Bitcoin ETFs in the USsignaled almost an institutional stamp of approval into Bitcoin and into cryptoas an asset class."Global monetary conditions were also highlighted as a keydriver: "As long as you've got a liquidity surplus cycle where we're in atthe moment, I think that's going to continue driving the price."In addition, the panel pointed to the growing Bitcoin hashrate and user activity as signs of continued network strength and long-termvalue. Overall, institutional participation and clearer regulatory signals wereidentified as stabilizing factors.Crypto Trends in South AfricaSouth Africa was described as a leading hub forcryptocurrency use in Africa, with an estimated 6.57 million users. The panelnoted that most people in the country approach crypto as an investment ratherthan for day-to-day transactions. "South Africa has a well-functioning banking system, sofor us, it's more trading, buying, and selling of coins."The panel also noted a shift toward broader use cases.Platforms are expanding their offerings to include staking services, productbundles, and payment options at retail outlets. "We’re really changing where crypto is previously justseen as buying Bitcoin holding it for investment purposes to a broad scale ofutility-driven functionality."Education was cited as an essential tool for adoption,especially among younger users, with platforms launching campaigns to improveblockchain literacy and reduce user hesitation.📸 Fresh from the floor! We’re only halfway through the day and FMAS:25 is already electric.From packed halls to high-energy conversations — the momentum is real. ⚡️Stay tuned… this is just the beginning. 👀 pic.twitter.com/m6jnfVV9Ak— FM events (@F_M_events) May 29, 2025Regulatory Environment and Exchange ControlA large part of the discussion centered on recent legal andregulatory developments. A court decision excluding crypto from exchangecontrol regulations has raised new questions about compliance and capitalmovement. The panel expressed concern about the potential forrestrictive interpretations: "If the Reserve Bank says all crypto transactions areseen as point of externalization, that's going to be very limiting."There was broad agreement that South Africa needs clear,responsible regulation aligned with international norms. "We need to use this opportunity to include digitalassets in a responsible framework where people can grow their wealth withoutoverly restrictive controls."The panel also questioned how traditional exchange controlmechanisms could be applied to inherently global digital assets. "From the moment you purchase a crypto asset, it'sinherently global. How do you regulate something with exchange controls uniqueto South Africa?"Bitcoin as a Reserve AssetThe idea of adding Bitcoin to South Africa’s nationalreserves received mixed responses. Some saw value in Bitcoin’s limited supplyand potential as a hedge against inflation and currency volatility."To have a Bitcoin reserve could be a very good edgefor us, especially with our volatile currency and rising government debt." Others argued that the idea is premature given the country’sregulatory position."Having that conversation in the South African contextis getting ahead of ourselves. There’s still a lot of progress needed." There were also questions about whether Bitcoin is suitablefor central banks in managing monetary policy.Developments and Emerging TrendsThe panel shared updates on their respective platforms.These included the rollout of AI tools for traders, community-driven tokenlistings, staking services, and crypto payments at major retailers. There wasalso a focus on DeFi tools for multi-wallet users and educational programstargeting youth and first-time investors.Security and AwarenessIn response to an audience question about AI threats toblockchain systems, the panel stressed the importance of self-education andaccessible resources. "Education is key here. Please use free resources tounderstand the security and business cases of different blockchains."Importance of Regulation and EducationThe panel concluded that South Africa is well-positioned tolead crypto adoption in Africa. However, the path forward depends on regulatoryclarity, user education, and industry collaboration. While crypto’s futureremains promising, the panel noted that policy alignment and practical utilitywill determine its long-term impact.This article was written by Tareq Sikder at www.financemagnates.com.