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The BRICS bloc is now focused on expanding the use of the currencies of its members, according to the representative of one of them. The establishment of a single currency for the group is not an immediate task at this point in time, the diplomat indicated in an interview. Wider Use of National Fiats of BRICS States to Precede Launch of Single Currency Experts at BRICS are putting efforts into deepening ties between the economies and financial markets of its member states, with the aim of creating a common currency. However, its possible introduction is a medium-term and even longer-term task, South Africa’s ambassador to the organization, Anil Sooklal, told Russian media. “Right now we are working on expanding the use of BRICS national currencies in mutual trade. BRICS has a corresponding agreement, and now we are implementing it in practice, so that the trade of the BRICS countries among themselves is increasingly based on our national currencies,” the top representative explaine

Cryptocurrency may be bad for investors but it can be useful in international settlements, according to a top government official in Moscow. Russian authorities intend to set up a special committee that would issue permits to operators employing crypto in foreign trade transactions, he indicated. Russia Plans to ‘Experiment’ With Cross-Border Crypto Payments Amid Sanctions Crypto assets can be used in certain scenarios, Russia’s Deputy Finance Minister Alexey Moiseev commented during an economic forum in Moscow. Speaking at the “Banks. Transformation. Economy. 2.0” conference, he was quoted by the RIA Novosti news agency as saying: Of course, crypto is generally evil. I believe that people who invest their savings there take a very big risk … But there may be individual situations in which crypto can be used. Moiseev made it clear he was referring to Russian foreign trade activities, which are currently restricted by Western sanctions. He also reminded that a draft law designed

BRICS nations can lead efforts to abandon the U.S. dollar in international settlements, according to President Bashar Assad of Syria. At a meeting with China’s top diplomat for the region, the leader of the war-torn Middle Eastern country called for using the Chinese yuan for cross-border trade. Economic Clash With West Requires Discarding Dollar, BRICS Leadership, Syrian President Says Confrontation with the United States and the West in general has been taking place mainly in the economic field and that makes it increasingly necessary to ditch the U.S. dollar as a currency for global transactions, President Bashar Assad of Syria was quoted as saying by Sana, the Syrian state-controlled news agency. Assad emphasized that the BRICS bloc, through the adoption of the Chinese yuan for trade transactions between nations, can play a leading role in that regard. He made the comments during a meeting with the Chinese government’s Special Envoy for the Middle East, Zhai Jun, whom he recei

Rich Dad Poor Dad author Robert Kiyosaki says the Fed is wiping out regional banks by supporting only big banks, like JPMorgan Chase. Stating that the Fed “is criminal,” he warned that its actions “will bring down” the United States. Robert Kiyosaki Says the Fed Is Criminal The author of Rich Dad Poor Dad, Robert Kiyosaki, warned in a series of tweets this week that the Fed is wiping out regional banks by supporting only the big banks, such as JPMorgan Chase. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted Wednesday: “WTF. What The Fed? Why is Fed destroying regional banks across America? Regional banks are [the] heart and soul of [the] economy. Fed via the Repo Market [is] killing regional banks. Is this intentional? Is a depression intentional? WTF is Fed up

The chairman of the State Duma Committee on the Financial Market says that an agreement on the BRICS currency can be reached in 2023 as BRICS nations ramp up their de-dollarization efforts to shift away from U.S. dollar reliance. “By linking its economy and currency to politics, the U.S. is practically undermining the foundations of its dominance,” said the Russian official. Agreement on BRICS Currency Could Be Reached in 2023, Says Russian Official Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, discussed BRICS currency and the de-dollarization trend on Wednesday at the press center of Parliamentary Newspaper, the publication of the Federal Assembly of the Russian Federation. Aksakov expects the share of the U.S. dollar in international trade to decline, noting that Americans continuing to destroy the value of the dollar with their own hands shows the whole world that the USD is being used for political purposes. He said: By linking its economy and

Pepe (PEPE), the meme coin featuring the popular character Pepe the Frog, has experienced a significant surge in value in the past week, rising by 152.9% against the U.S. dollar. Recent statistics indicate that PEPE’s market capitalization has surged from $141 million on April 22 to a current valuation of $303 million. PEPE Jumps 99% in 24 Hours, Now Fifth-Largest Meme Token by Market Cap On April 30, 2023, the top meme coin crypto assets by market capitalization are worth $19.11 billion. Over the past 24 hours, the valuation of all meme tokens has risen 1.6%. However, only two out of the top five meme coins by market capitalization have seen gains. The newly launched cryptocurrency, pepe (PEPE) , is leading the pack with triple-digit gains. Data collected from coingecko.com shows that over the last seven days, PEPE has risen 152.9%, with most of the gains coming from the last 24 hours as the token jumped 99% higher on Sunday. PEPEUSDT chart by TradingView Bitcoin.com News

After the American financial technology giant Paypal rolled out crypto payments last year, the company is now introducing cryptocurrency transfer services to Venmo users. The firm detailed that Venmo customers will be able to send funds to an existing Paypal account, an external wallet, or a crypto exchange platform. Venmo Customers Can Now Transfer Cryptocurrency to Paypal Users, External Accounts, and Exchanges On April 28, the payments services company Paypal announced that Venmo’s 60 million customers can now enjoy cryptocurrency transfers. The rollout follows Paypal’s crypto transfer launch last summer after initially introducing the product without the ability to transfer to external accounts. Similarly, up until now, Venmo only allowed its customers to buy, hold, and sell after integrating crypto in 2021. “Crypto transfers will be rolling out to Venmo customers over the coming weeks starting in May 2023,” Paypal said on Friday. In a bid to gather more insights into the be

At 11:06 a.m. Eastern Time (ET) on April 29, 2023, at block height 787,500, the number of blocks left to discover until the next Bitcoin blockchain halving is now fewer than 52,500 blocks. This means the network has progressed 75% through the 210,000-block halving cycle, which will ultimately result in a reduction of the block reward from 6.25 bitcoins per block to 3.125 bitcoins per block. Bitcoin Halving Countdown: Fewer Than 52,500 Blocks Left to Discover On Saturday morning (ET), the Bitcoin network progressed 75% of the way toward the next block reward halving, with fewer than 52,500 blocks left to discover until the event occurs. This milestone marks another step in the ongoing evolution of the Bitcoin network as it progresses toward its eventual maximum supply of 21 million bitcoins. The Bitcoin blockchain halves its block reward every 210,000 blocks, which occurs roughly every four years. ▓▓▓▓▓▓▓▓▓▓▓▓░░░ 75% 365 days and 52503 blocks left $29385 per #bitcoin — Progress

U.S. Senator Rand Paul has warned that the U.S. dollar could lose its status as a global reserve currency. “For a variety of reasons, both foreign policy as well as fiscal irresponsibility, yes, the dollar is in a precarious position,” said the lawmaker. Senator Rand Paul on U.S. Dollar Losing Reserve Currency Status U.S. Senator Rand Paul (R-KY) shared his concerns about the growing de-dollarization trend and the USD losing its global reserve currency status in an interview with Fox Business Thursday. He was asked: “Is king dollar going to be tossed off of its throne because of bad fiscal and monetary policies? Is it going to lose its world reserve status in your judgment?” The senator from Kentucky replied: I am concerned about it. “I think our foreign policy has something to do with that … We’ve pushed all of our adversaries farther and farther away from us and closer and closer together. It’s not just Russia and China being pushed together by foreign policy and obviously, s

Bridgewater Associates founder Ray Dalio has warned that the U.S. and China are “on the brink of war” and “are beyond the ability to talk.” The billionaire added that their relations “are getting so bad” that U.S.-China trade could collapse. He cautioned that the next 18 months “will be a very risky period.” U.S. and China on the Brink of War, Says Dalio Ray Dalio, the founder of the world’s largest asset manager, Bridgewater Associates, warned in a Linkedin post, published Wednesday, that the U.S. and China are on the brink of war. The billionaire, who has visited China for almost 40 years and has built close friendships there, shared his perspectives from his recent 13-day trips to China, as well as from meetings with Chinese citizens, experts on China residing outside the country, and policymakers in other countries, including the U.S. Regarding U.S.-China relations, Dalio stressed: The United States and China are on the brink of war and are beyond the ability to talk. He no

Economist Stephen Jen, a former Morgan Stanley managing director, expects a shift “from a unipolar reserve currency world to a multipolar world,” with the Chinese yuan, the euro, and the U.S. dollar forming a “tripolar” reserve currency configuration. ‘A Multipolar World’ Economist Stephen Jen, the CEO of asset management firm Eurizon SLJ, expects multiple currencies will chip away at the U.S. dollar’s dominance. Jen was formerly a managing director at Morgan Stanley in London and a senior economist at the International Monetary Fund (IMF). After stating that the U.S. dollar is losing its world’s reserve currency status at “ an alarming pace ,” the former Morgan Stanley director told the Insider publication that the de-dollarization trend is likely to continue. However, he noted that it will “probably not to a point where a non-dollar currency commands a bigger market share than the dollar.” Jen described: More likely, we will evolve from a unipolar reserve currency world to a mu

This week, the Statistics Bureau of Japan unveiled the latest core consumer price index (CPI) report for the country, revealing a surge to 3.5%. This figure comes as a surprise to analysts who had predicted a more modest 2.9% for the end of the quarter. It’s worth noting that Japan’s inflation has been steadily rising since June 2021. The timing of this uptick is also notable, as Kazuo Ueda has recently assumed the role of the 32nd governor of the Bank of Japan. New BOJ Governor Faces Rising Inflation, Central Bank to Conduct Review of Monetary Policy Measures In April, Japan experienced a surge in its year-over-year inflation rate — excluding fresh food and energy prices — which increased to 3.5% . This worsening inflation rate is a concern for the Bank of Japan (BOJ), which aims to bring the rate back down to the 2% range, like several central banks worldwide. However, the country’s economy is facing significant challenges, including the aftermath of the Covid-19 pandemic, which r

A federal judge in Brazil has ordered the temporary suspension of Telegram in the country and established hefty fines due to the supposed lack of collaboration of the company in a national crusade against school violence. Telegram failed to deliver information regarding the actions it is taking against neo-Nazi groups, and now it has been blocked by most internet providers in Brazil. Brazil Blocks Access to Telegram Apps A federal judge ordered a nationwide ban on Telegram, the popular messaging app, on April 26, due to its perceived lack of collaboration in a push against school violence. The company behind the app failed to turn over documents regarding the existence of neo-Nazi groups and the measures it is taking against them on Telegram, according to reports from the local journal O’Globo. In addition, the Brazilian justice system is also fining Telegram for this lack of collaboration to the tune of 1 million Brazilian reals (approx $200,000) for each day that passes without

Russia’s president, Vladimir Putin, has slammed the actions of the elites in the U.S. and Europe, stating that they do not always act in the best interest of their own people. “It will backfire on them,” he said. Putin also called for a cohesive response to the West’s economic aggression, emphasizing that Russia will strengthen its partnerships with friendly nations and collaborate with foreign partners. Putin Plans to Expand Partnerships With Friendly Countries Russian President Vladimir Putin slammed policies in the U.S. and Europe while calling for a cohesive response to the West’s economic aggression at a meeting with the Council of Legislators on Friday, Russian news outlet Tass reported. “We are not going to isolate ourselves. On the contrary, we will expand pragmatic, equitable, mutually beneficial relations that are nothing less than partnerships with friendly countries in Eurasia, Africa, Latin America,” Putin said, adding: In the United States, by the way, we have a lot

A Russian official has revealed that regular discussions are being held between Russia and other BRICS member nations regarding the expansion of the economic group. “This requires a thorough analysis and delicate internal work by the five countries to reach a consensus,” according to Russia’s Foreign Ministry. Member Countries Discuss BRICS Expansion Maria Zakharova, the spokeswoman for the Russian Foreign Ministry, stated during a news briefing on Thursday that Russia has been holding regular negotiations with its BRICS partners regarding the group’s possible expansion, local news outlet Tass reported. The BRICS nations comprise Brazil, Russia, India, China, and South Africa. Zakharova explained: The entire range of issues associated with this is being discussed at BRICS sherpas and sous-sherpas meetings, and, of course, this requires a thorough analysis and delicate internal work by the five countries to reach a consensus. The Foreign Ministry’s spokesperson added that while

PRESS RELEASE. Pleasant Grove, Utah – The Mirror Protocol, a trailblazing decentralized finance (DeFi) project, proudly announces the launch of its highly anticipated pre-sale. This state-of-the-art platform empowers users to seamlessly diversify their portfolios with the most sought-after blue-chip cryptocurrencies available today. The pre-sale event showcases an extensive array of The Mirror Protocol tokens, including XRP-MP, ETH-MP, ADA-MP, LINK-MP, and MATIC-MP. These tokens yield rewards in premier crypto coins such as # BTC , # BNB , # ETH , # XRP , # ADA , #LINK, and #MATIC, making it an ideal opportunity for participants eager to capitalize on the impressive DeFi blue-chips dominating the market. Managing Director Roland Aravelo expressed his enthusiasm, stating, “We are thrilled to launch our pre-sale on this groundbreaking dashboard. The Mirror Protocol consistently strives to offer the optimal experience for our participants, and this innovative dashboard enables us to de

A China-led regional organization that covers more than half of Eurasia intends to transition to settlements in the currencies of its members. While the plan is to abandon the U.S. dollar in mutual payments, participating nations are yet to consider a common currency. Shanghai Cooperation Organization to Abandon Dollar in Favor of National Currencies The Shanghai Cooperation Organization (SCO) is preparing to move away from the U.S. dollar and switch to settlements in the national currencies of its member states. In an interview with the Belarus 1 state TV channel, the bloc’s Deputy Secretary General Grigory Logvinov stated: A roadmap for the transition to settlements in national currencies is being developed. Also quoted by the Interfax news agency, the Russian diplomat emphasized that efforts in that direction are “serious and substantive.” “The process is far from simple because, unfortunately, the dollar as a world reserve currency is too deeply embedded, including in natio

Almost 12 months back, terrausd (UST), an algorithmic stablecoin, suffered a detachment from the U.S. dollar, causing the Terra ecosystem to crumble shortly thereafter. At present, supporters of the Terra Classic blockchain community are deliberating on a plan to revive the ecosystem by re-establishing the once-stable token’s peg with the U.S. dollar. In response to the proposed development, the value of UST, renamed USTC, has escalated by more than 9% in the past 24 hours. Terra Classic Community Plans to Take Action to Restore USTC’s Peg With USD Terra Classic blockchain supporters aim to revive the algorithmic stablecoin’s ecosystem by restoring the token USTC ’s value parity with the U.S. dollar. A Terra Classic community member using the pseudonym “Redlinedrifter” submitted the proposal , affirming that Do Kwon’s decentralized money creation was a positive initiative but that “serious issues need to be addressed” for the community to re-establish the token’s value peg with the

Russian Foreign Minister Sergey Lavrov has spoken on the current shift to national currencies and the de-dollarization international markets are currently experiencing. In a press conference after addressing the UN Security Council on April 25, Lavrov stated this shift could not be stopped, and that the future of traditional international institutions like the International Monetary Fund (IMF) was uncertain. Russian FM Sergey Lavrov Thinks De-Dollarization ‘Can No Longer Be Stopped’ Russian Foreign Minister Sergey Lavrov referred to the current shift that international markets are taking away from the U.S. dollar in favor of national currencies. In a press conference after having addressed the UN Security Council, which he chaired, Lavrov stated that this movement to other currencies was unstoppable and that it would likely affect traditional finance institutions. According to the Russian news Agency TASS, Lavrov declared : The shift to settlements in national currencies bypassin

Micheal Saylor, the founder of Microstrategy, has told people living in inflation-stricken Argentina that they now “need bitcoin.” While many bitcoiners have welcomed Saylor’s suggestion, a few critics have said the top crypto asset’s volatility makes it an unsuitable alternative for the faltering local currency. The Dollarization Option As the Argentinian currency — the peso — continued with the slide that has seen it depreciate by more than 40% over the past twelve months, Micheal Saylor, the founder of Microstrategy, has chimed in by tweeting that people living in the South American country now “need bitcoin.” In a subsequent tweet , Saylor, a bitcoin critic turned advocate, also shared news about the South American country’s inflation rate after it topped 7.58% per day. If you live in Argentina🇦🇷 right now, you need #bitcoin . — Michael Saylor⚡️ (@saylor) April 22, 2023 The tweets by Saylor, whose firm is one of the largest corporate holders of BTC , came as reports sug

Donald Trump has warned that the U.S. dollar is crashing and soon will “no longer be the world standard.” The former president of the United States further warned that “we are very close” to a third world war happening. “Joe Biden has led us to the very brink of World War III,” he stressed. Trump on Inflation, Dollar Crashing, World War III Donald Trump released a video Tuesday following Joe Biden’s announcement that he is running for the president of the United States in 2024. The former U.S. president began by outlining the damage to the U.S. economy caused by Biden in a few short years, including his “spending calamity.” Trump described: American families are being decimated by the worst inflation in half a century. Banks are failing, our currency is crashing, and the dollar will soon no longer be the world standard, which will be our greatest defeat in over 200 years. “Joe Biden has led us to the very brink of World War III,” Trump continued. However, he clarified: “I’m not

Rich Dad Poor Dad author Robert Kiyosaki has warned of economic chaos, a war breaking out, hyperinflation, and rising starvation. Commenting on de-dollarization on a “massive scale,” he stressed: “It’s a weaponization of our U.S. dollar against the world … It’s all coming down fast right now.” Robert Kiyosaki on De-Dollarization on ‘Massive Scale’ The author of Rich Dad Poor Dad, Robert Kiyosaki, is back with more dire predictions about the U.S. economy, the dollar, and global economic chaos. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. Over 32 million copies of the book have been sold in over 51 languages across more than 109 countries. During his Rich Dad radio show, which aired last week, Kiyosaki discussed de-dollarization with Andy Schectman, CEO of Miles Franklin Precious Metals Investments. Schectman began by highlighting recent events that led to what he described as “de-