Tracy Alloway, Dubai, SEC discussed on


Tv and radio i'm tracy alloway in dubai while we do have some headlines coming through on bitcoin one of my favorite topics of course the headline is google is going to ban crypto currency and initial coin offering ads in june this comes amid the ongoing social media crackdown on some of those ico and virtual currency advertisements that we've been seeing as well of course as the sec's regulatory crackdown on icao's bitcoin however still holding on just a little bit too gains currently at nine thousand one hundred and twenty one all right let's turn over to emerging markets now veteran em investor mark mobius says china's regulatory overhaul is an encouraging sign for foreign investors in an interview with bloomberg television mobius said beijing's reform was an attempt by authorities to make up for a shortfall in oversight on the financial markets i think they realized two things one you know the alibaba of this world the ten cents to these world beginning to take over the banking functions payless kind of functions that we see now you don't need a credit card now you don't need cash in china so that's one factor the other factor is that they realized that some of these institutions went far beyond where they should have gone in terms of lending in terms of financing and they have to bring together again and they realized that they have a institution some kind of regulatory is the tuition that can control the entire sector rather than just individual parts so if you're an investor a western investor looking at china does that create an opportunity when it comes to the banks of the insurance companies or does it pose a risk.

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