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Tornado Cash Founders Accused, Court Rules in Favor of Grayscale Against SEC, and More — Bitcoin.com News Week in Review
Robert Kennedy Jr: China Doesn’t Want War With US — They Want to ‘Bury’ Us Economically
[Sep 2, 2023 7:30 PM] U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has explained that China does not want a war with the U.S. However, he warned that China wants to “bury” the U.S. economically. “I’m not afraid of the United States competing with…
Top BRICS Diplomats Approached Indonesia With Proposal to Join, Foreign Minister Says
[Sep 2, 2023 4:30 AM] The foreign ministers of the BRICS states have reached out to invite Indonesia to become a member of the group, their Indonesian counterpart unveiled. The government in Jakarta is still weighing the benefits of joining the organization and is yet…
Dollar Share in Reserves Drops Below 60%, Yuan Rises, Russian Diplomat Says
[Sep 2, 2023 12:00 AM] The share of currencies other than the U.S. dollar and the euro in international reserves is on the rise, according to a Russian representative. The trend is being observed as a growing number of countries try to use their national currencies in…
Latam Insights: Brazil’s Lula Pushes for BRICS Currency; Binance Drops Card Programs
UN Secretary General Antonio Guterres Calls for Reform of ‘Outdated, Dysfunctional, and Unfair’ Global Financial Architecture
[Aug 28, 2023 3:30 AM] Antonio Guterres, Secretary General of the United Nations (U.N.), has noted changes that need to happen with today’s financial institutions to fit into the current multilateral world. During the recent BRICS leaders summit, Guterres said that…
Venezuelan President Nicolas Maduro Calls for De-Dollarization of the Global Economy
[Aug 28, 2023 1:30 AM] Nicolas Maduro, the president of Venezuela, has called to de-dollarize the global economy due to the difficulties the current system brings to emerging countries affected by U.S. sanctions. In a message directed to the BRICS leaders, Maduro called…
India’s Prime Minister Calls for Global Crypto Framework With Focus on Unified Approach, Adoption, Democratization
[Aug 27, 2023 9:30 PM] India’s Prime Minister Narendra Modi says crypto needs “a global framework and regulations.” He stressed: “The rapid pace of change of technology is a reality — there is no point in ignoring it or wishing it away. Instead, the focus should be on
Oil Giants Joining BRICS a Strategic Success for China and Russia, Expert Says
[Aug 27, 2023 7:30 PM] A German expert says that the BRICS economic bloc adding several oil giants as new members “is a strategic success for China and Russia.” The BRICS leaders announced at their annual summit last week that they have invited Saudi Arabia, the UAE…
Analysis Says 2024 Halving Could Push Bitcoin to $400K, BRICS Declares Importance of Local Currencies in Trade — Week in Review
All Nations Invited to Join BRICS Said ‘Yes’ to Membership: Russian Diplomat
[Aug 27, 2023 1:30 AM] The six countries that received an invitation to become members of BRICS at its summit have confirmed their decision to join the bloc, one of Russia’s top diplomats unveiled. The high-ranking official added that at this point in time it would be…
US Dollar Dominance in Global Payments Strengthens, SWIFT Data Shows
[Aug 26, 2023 9:30 PM] The U.S. dollar’s dominance in global payments has strengthened, according to data compiled by global financial messaging service SWIFT. The share of SWIFT FX transactions involving the U.S. dollar rose to a record 46% in July. In addition, the…
Russian Foreign Minister Sergey Lavrov: BRICS Is Focused on Reducing Dependence on US-Controlled System
[Aug 26, 2023 12:30 AM] Russian Foreign Minister Sergey Lavrov has declared that the actions of the BRICS bloc, integrated by Brazil, Russia, India, China, and South Africa, are focused on reducing dependency on the economic system managed by the U.S. and its Western…
Brazil Proposes Plan to Settle Bilateral Trade With Argentina in Chinese Yuan
[Aug 25, 2023 10:30 PM] The government of Brazil has formally presented a proposal to Argentina to settle bilateral trade transactions in the Chinese yuan. The proposal, which would leverage resources in the Chinese credit swap line, aims to maintain trade between the…
South African Official: Common Currency Requires Central Bank, Threatens Monetary Policy Independence
[Aug 25, 2023 8:30 PM] South Africa’s minister of finance has explained why he believes that no country is ready for a common currency, including a unified BRICS currency. “Setting up a common currency presupposes setting up a central bank, and that presupposes losing…
Ministry of Economic Development of Russia Pessimistic About Quickly Advancing BRICS Common Currency Proposal
BRICS States Should Tackle AI Risks Together, Xi Jinping Says
[Aug 24, 2023 10:30 PM] BRICS nations should address the risks related to artificial intelligence (AI), Chinese President Xi Jinping said during the group’s summit in South Africa. China’s leader is also convinced that the members of the economic bloc must work to…
BRICS Leaders Declare Importance of Using Local Currencies in International Trade
[Aug 24, 2023 7:30 PM] The BRICS leaders stress “the importance of encouraging the use of local currencies in international trade and financial transactions” in their declaration released at the conclusion of their 15th annual summit. In addition, the BRICS nations…
BRICS Invites 6 Countries to Join, Including Saudi Arabia, UAE, Iran
[Aug 24, 2023 6:00 PM] The BRICS economic bloc has invited six countries to become new members: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. The BRICS leaders wrapped up their 15th annual summit on Thursday. “We have reached agreement on…
BRICS Countries Can Use India’s UPI Instant Payment System, Prime Minister Modi Suggests
[Aug 24, 2023 4:30 AM] Member states of the BRICS bloc can follow the example of other nations and start using India’s Unified Payments Interface (UPI) system, according to Prime Minister Narendra Modi. The country is a leader in digital transactions, the head of the…
BRICS Discussing Single Unit of Account, Alternative to Dollar, Russian Finance Minister Says
[Aug 24, 2023 3:00 AM] The BRICS members are mulling over the possible launch of a common unit of account, Russia’s Minister of Finance Anton Siluanov unveiled. This would be an alternative to the U.S. dollar that can be used to denote the cost of some commodities, for…
Brazil’s President Says BRICS Not Seeking to Counter US, G7, or G20 — Pushes for BRICS Currency
[Aug 23, 2023 9:30 PM] Brazil’s President Luiz Inacio Lula da Silva has stated that the BRICS economic bloc does not want to be “a counterpoint to the G7, G20, or the United States,” emphasizing that the BRICS nations “just want to organize ourselves.” The…
Local Currencies Are Not Alternatives to the Dollar but the System, BRICS Bank Chair Says
[Aug 23, 2023 1:30 PM] The development bank founded by the BRICS bloc of emerging economies aims to promote a multipolar financial system, its head, Dilma Rousseff, has indicated. As part of these efforts, the institution seeks to expand lending in local currencies…
Here’s what the latest Bitcoin price correction reveals
[Aug 23, 2023 6:30 AM] The latest episode of The Market Report analyses the recent Bitcoin price correction to $26,000 and what it reveals about the current market structure.
BRICS Bank to Issue First Indian Rupee Bond — Plans to Boost Local Currency Lending
[Aug 22, 2023 11:30 PM] The New Development Bank (NDB), also known as the BRICS Bank, is reportedly planning to issue its first Indian rupee bond by October. Last week, the bank issued its first South African rand bond. “NDB is seeking to increase its presence in…
Official Hints China Could Pit Expanded BRICS Against G7
[Aug 22, 2023 11:30 AM] China may be in the process of building an expanded BRICS to pit the bloc as a geopolitical rival for the Group of Seven (G7) nations, as per statements from a Chinese official. In its upcoming summit that will take place in Johannesburg, the bloc…
Dutch ING Bank Analysts: BRICS Expansion to Power De-Dollarization Across World Economies
[Aug 22, 2023 2:00 AM] Analysts of ING bank believe the de-dollarization trend that has been growing in the world might pick up momentum due to the possible expansion of the BRICS bloc. While the issuance of a BRICS common currency remains uncertain, according to some…
Over 40 Heads of State Will Attend BRICS Summit, South Africa Confirms
[Aug 21, 2023 8:00 PM] South Africa, the host of the BRICS summit this year, has confirmed that more than 40 heads of state will participate in the summit that will take place on Aug. 22-24. South Africa has also claimed that 23 countries have formally applied for BRICS…
Volatility in Chinese Yuan, Russian Ruble Makes De-Dollarization Harder, Market Analyst Says
[Aug 20, 2023 8:30 PM] A market analyst says that the recent decline and volatility in the Chinese yuan, the Russian ruble, and to a lesser extent the Argentine peso, “will only add further challenges to the idea of de-dollarization.” He stressed that countries are…