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Russian Senate Leader Predicts Use of CBDCs in BRICS Payment System
14.7.2024
Valentina Matvienko, Chairman of the Russian Federation Council, talked about the role of national digital currencies, also known as CBDCs, in increasing the use of national currencies in BRICS trade. Matvienko stated that a hypothetical BRICS bridge, a joint payment system, would leverage...
German Government Now Holds Less Than 10K BTC, Iran Proposes to Link All BRICS Payment Systems, and More — Week in Review
14.7.2024
Iran’s Foreign Affairs Ministry has proposed linking BRICS countries’ payment systems for seamless national currency transactions. Meanwhile, Germany’s government reduced its Bitcoin holdings by over 3,000 BTC, now holding under 10,000. AI chatbots predict Bitcoin’s...
Putin Envisions Official BRICS Parliamentary Organization
14.7.2024
Russian President Vladimir Putin believes that the BRICS economic bloc will have its own official parliamentary organization in the future. Speaking at the 10th BRICS Parliamentary Forum, Putin emphasized the importance of parliaments in promoting multilateralism and global security. He highlighted...
Iran Proposes to Link All BRICS Payment Systems
9.7.2024
The spokesperson for the Ministry of Foreign Affairs of the Islamic Republic of Iran Nasser Kanani has proposed to link the payment systems of all the countries of the BRICS bloc, allowing for seamless settlements between these. Kanani stated that the conditions have been created for this...
Economist Jim Rickards Discusses US Dollar Decline and Potential $27,000 Gold
8.7.2024
Economist Jim Rickards has shared insights on the U.S. dollar’s decline, driven by sanctions and mounting debt, and the potential rise in gold’s value as nations seek alternatives like the BRICS currency. He warns that internal mismanagement is the greatest threat to the dollar’s...
US Dollar Retains Global Dominance Despite BRICS Efforts, Reveals Atlantic Council Report
26.6.2024
Despite concerted efforts by the BRICS nations to decrease global dependence on the U.S. dollar, the fiat currency remains the dominant force in the world economy, a new study from the Atlantic Council’s Geoeconomics Center finds. The report underscores the challenges of de-dollarization amidst...
Putin Criticizes U.S. Dollar’s Lack of Gold Backing, Calls for Alternative Payment Systems
17.6.2024
Russian President Vladimir Putin criticized the United States for its abandonment of the gold standard, remarking in a Sputnik-released video that the U.S. dollar is now a trust-based currency without tangible backing, a decision underscored by the absence of gold equivalence. This critique arrives...
Putin Says BRICS Developing Independent Payment System Free From Political Pressure
12.6.2024
Russian President Vladimir Putin recently announced that the BRICS bloc aims to establish an independent payment system, free from political pressure and external interference. Putin stated that the addition of new members has increased BRICS’ share of global GDP to 36% and its share of...
Putin Says US Dollar Dominance Diminishing as Use of ‘Toxic Currencies’ Declines
12.6.2024
Russian President Vladimir Putin claims U.S. economic policies are diminishing the dollar’s global dominance. “Last year the share of payments for Russian exports in the unfriendly states’ so-called toxic currencies was halved,” he revealed, labeling the U.S.’s $1 trillion...
BRICS Meeting Highlights Shift to Local Currencies
11.6.2024
BRICS Ministers of Foreign Affairs have emphasized using local currencies in trade, reaffirming economic resilience and financial sovereignty. At their meeting on Monday, the Ministers underscored the importance of the enhanced use of local currencies in financial transactions between the BRICS...
30 Countries Seek to Join BRICS, Russian Ambassador to China Says
10.6.2024
Russian Ambassador to China Igor Morgulov disclosed that approximately 30 countries are interested in joining the BRICS economic bloc in an opinion piece published by the South China Morning Post last week. BRICS welcomed five new members in January: Egypt, Iran, the United Arab Emirates (UAE)...
‘Really Stupid and a Huge Mistake:’ Putin Blasts US Actions Blocking Payments to China; Exporters Turn to Small Banks and Crypto
20.5.2024
Russian President Vladimir Putin charged against the U.S. actions seeking to block Russian payments to China and other countries. During a two-day trip to China, the Russian leader emphasized that this strategy was “really stupid and a huge mistake,” considering that these actions...
Russia and Iran Collaborating on Single BRICS Currency, Iranian Ambassador Says
19.5.2024
Russia and Iran are collaborating on creating a single BRICS currency, the Iranian ambassador to Russia has claimed. He noted that over 60% of the two nations’ bilateral trade is conducted in Russian rubles and rials, reflecting a shift away from the U.S. dollar. Russia-Iran Trade Flourishes...
Robert Kiyosaki Warns of US Dollar Collapse if BRICS Crypto Happens
13.5.2024
Rich Dad Poor Dad author Robert Kiyosaki has issued a cautionary statement regarding the possible downfall of the U.S. dollar in the event of the BRICS economic bloc launching a gold-backed cryptocurrency. Kiyosaki predicts a scenario where trillions of U.S. dollars flood back into the country...
Former President Donald Trump’s Advisers Explore Penalties for Nations Ditching US Dollar
29.4.2024
Former U.S. President Donald Trump’s economic advisers are reportedly devising strategies to deter nations from reducing their reliance on the U.S. dollar. Proposed deterrents include export controls, currency manipulation charges, and tariffs. Trump remains committed to preserving the U.S....
BRICS Bloc Mulls Stablecoins, CBDC-Based System for International Settlements
23.4.2024
Russian Deputy Foreign Minister Sergey Ryabkov revealed that the BRICS bloc has been considering the use of stablecoins for its common rail payment systems. In an interview with TV BRICS, Ryabkov stated that the use of stablecoins and a connection linking the CBDCs of the participants were studied...
Russia Regulates Use of Digital Assets for International Settlements
15.3.2024
Russia has integrated the use of digital assets as payment for international transactions in its legislation. President Vladimir Putin signed into law a document that describes using these assets as payment for international settlements, a use case not contemplated in any law, appointing...
Kremlin Reveals Plans to Create a “Politics-Free” BRICS Blockchain-Based Payments System
8.3.2024
Yury Ushakov, an aide of Russian president Vladimir Putin, revealed plans to create a digital blockchain payment system for the BRICS bloc. Ushakov remarked that the countries of the group would benefit from implementing such a system for the use of governments, common people, and businesses...
BRICS to Develop Digital Currencies and Blockchain-Based Payment System
5.3.2024
BRICS nations announce plans to collaborate to launch an independent blockchain-based payment system, introducing their own digital currencies to streamline cost-effective transactions.
The post BRICS to Develop Digital Currencies and Blockchain-Based Payment System appeared first on Cryptonews
BRICS Will Create Payment System Based on Digital Currencies and Blockchain: Report
5.3.2024
The five-nation BRICS group comprising Brazil, Russia, India, China and South Africa will work on creating a payment system based on blockchain and digital technologies, a report by Russian news agency TASS said