BRICS Consider Replacing USD with Crypto for International Trade
In a recent statement, Anatoly Aksakov, the Russian State Duma Committee on Financial Market’s chair, noted there’s a push within the BRICS bloc to transition from the U.S. dollar to cryptocurrency for trade purposes. Aksakov emphasized the alliance’s efforts to leverage digital assets instead of traditional fiat currency for international commerce. The BRICS economic alliance, initially comprised of Russia, Brazil, India, South Africa and China, has long been committed to reducing reliance on the U.S. dollar, advocating for the use of local currencies. Consequently, the creation of digital currency transaction solutions has become a focal point, notably with the introduction…
