Coin World News, on January 31st, President Trump of the United States stated that he will require BRICS countries to neither create new BRICS currency nor support any other currency to replace the strong US dollar. If they do so, they will face 100% tariffs. (Oriental Wealth)

According to Caixin's report, the news that the so-called 'BRICS Pay' system will be piloted in China has been confirmed to be questionable. The relevant authorities stated that the Chinese monetary authorities are not aware of the existence of 'BRICS Pay', nor have they participated in the related project, nor have they initiated any pilot plans. It is reported that 'BRICS Pay' claims to be a decentralized multilateral cross-border payment system launched by the BRICS countries, and an English and Chinese version of the 'official website' has appeared on the Internet, attracting attention. Many industry insiders point out that this may be a false propaganda tactic in the cryptocurrency field, aimed at misleading the public to invest, so caution is advised. It was previously reported that Trump demanded BRICS countries to use the US dollar, otherwise they would face 100% tariffs and bid farewell to the US market.

US President-elect Trump: demands BRICS countries to commit to not creating new BRICS country currencies, nor supporting any other currency to replace the strong US dollar, otherwise they will face 100% tariffs.

On June 11, Jinshi Data reported that despite some economic weakness in the first quarter in a few major economies (namely the United States and Japan), the global economy continued to grow steadily in the first quarter. The growth of non-OECD economies remains strong, and the growth of the BRICS countries is even better than expected. If the growth of major OECD economies accelerates in the second half of the year while non-OECD economies maintain their growth momentum in the first half, then this year's economic growth may further improve. Currently, the global economic growth forecast for 2024 is 2.8% and for 2025 is 2.9%, unchanged from last month's forecast.

On April 27th, Jinshi Data reported that on April 26th, local time, Bolivian Minister of Foreign Affairs, Sosa, who is currently visiting Russia, reiterated that Bolivia will actively promote its participation in the BRICS cooperation mechanism. Sosa made this statement at a joint press conference with Russian Foreign Minister Lavrov. Sosa stated that the BRICS cooperation mechanism has become the preferred choice for promoting and supporting fairer and more equitable development. Bolivia's efforts to join this mechanism are not only an opportunity for the country itself, but also an important step for Latin America in building a more balanced international order.

According to the website of the Ministry of Foreign Affairs, on April 25, 2024, the BRICS Deputy Foreign Minister/Special Envoy Consultation for Middle East Affairs was held in Moscow, Russia. Russian Deputy Foreign Minister Bogdanov presided over the meeting. Zhai Jun, the special envoy of the Chinese Government for the Middle East issue, led a delegation to attend the meeting. Zhai Jun said that the world has entered a new period of turbulence and change, and the Middle East region is also undergoing profound and complex changes. The pursuit of peace and development has become the general trend of the region, but the instability and uncertainty in the regional situation are still prominent, especially the conflict in Gaza has dragged on to this day, and the spillover effects continue to spread. China firmly supports the people of the Middle East in independently exploring their own development paths, supports Middle Eastern countries in resolving regional security issues in solidarity and cooperation, and stands ready to work with BRICS members to be a promoter of security and stability in the Middle East, a partner for development and prosperity, and a promoter of unity and self-reliance.

PANews news on March 5, according to Russian media reports, BRICS countries (Brazil, Russia, India, China and South Africa) plan to create a payment system based on Digital Money and Blockchain technology. This effort aims to increase BRICS' role in the International Monetary System and reduce dependence on the US dollar. The payment system will leverage the latest digital technologies and Blockchain and aims to provide governments, ordinary people and businesses with convenient, cost-effective and politically independent payment solutions.

Golden Finance reports that the BRICS countries, a global economic alliance, are considering introducing a new global payment system. The system can bypass the universally recognized banking protocol SWIFT. According to Russian state-funded media TASS, the finance ministers of the BRICS countries are currently evaluating the feasibility of this unified payment network. It is worth noting that its impact and potential will be formally discussed at the upcoming BRICS summit next year.

[ BTC’s Counter-Indicator DYX 👀 ] DYX has recently reached a position of strong pressure from above. If it turns back, Bitcoin is likely to usher in a rebound; and this indicator represents the strength of the US dollar relative to the currencies of other countries. The BRICS Summit, which ended on August 24 this year, announced the addition of six new members: Argentina, Egypt, Ethiopia, Saudi Arabia, the United Arab Emirates and Iran. Membership will take effect on January 1, 2024. After Arab membership BRICS has already controlled more than half of oil. Oil prices can determine inflation, and inflation can affect interest rates, which can indirectly affect U.S. monetary policy. In the context of global de-dollarization, the top financial institutions in the United States have recently applied for Bitcoin spot ETFs. Judging from the future consensus is that the US dollar will decline and Bitcoin will rise, it will become an extremely valuable product😎 Hope this article helps you ✅Follow👍Click up #cryptocurrency##currency circle##news##BTC

Jinse Finance reported that cryptocurrency analyst A Chainof Blocks said that after the BRICS countries decided to abandon the US dollar and adopt alternative payment systems, XRP has revived people's interest. Dire U.S. economic conditions have boosted the BRICS' popularity, with more countries now asking to join. As of the group's last summit, more than 20 countries, including Saudi Arabia and the United Arab Emirates, have expressed interest in becoming members. Most member states view XRP as a viable global payment option, which can facilitate transactions between member states. Graham Bright, Head of Compliance and Operations at Euro Exim Bank, also pointed to the token’s growing relevance. The BRICS countries have drawn up plans to establish a bank for their members. They believe the bank will reform the global monetary and financial system. Recent statements by Russian President Vladimir Putin further corroborate this claim. At the last BRICS summit, the chairmen of the BRICS countries stated that the BRICS countries would not use the US dollar for mutual transactions. Instead, he said they have been using local currencies, which has resulted in an 80% drop in dollar transactions in those countries.

Jinse Finance reported that according to local Brazilian media InfoMoney, a basket of national currencies of Brazil, Russia, India, China and South Africa BRICS countries may be named R5, because the initial letter of the currencies of the five countries is "R", respectively. These are the Brazilian Real, the Russian Rublo, the Indian Rúpia, the Renminbi Renminbi, and the South African Rand.

Will the BRICS currency replace USD or Bitcoin?!? 🤯

Golden Finance reported that Robert Kiyosaki, author of "Rich Dad Poor Dad", commented on the latest move by members of the BRICS alliance to adopt the gold standard. Robert Kiyosaki said that the BRICS countries may announce the launch of a gold-backed cryptocurrency next month, which may change the status quo of the valuation of the US dollar (USD). Hedge against inflation that is about to soar in the coming months. In addition, Kiyosaki predicted that the price of Bitcoin will hit $120,000 next year. Jinse Finance previously reported that Standard Chartered Bank predicted that Bitcoin may reach $50,000 this year and $120,000 by the end of 2024.

Jinse Finance reported that Olga Skorobogatova, the first deputy governor of the Russian central bank, talked about the plans for the Russian central bank's digital currency (CBDC). interest in international applications to reduce its exposure to the U.S.-dominated financial system represented by SWIFT and Western clearing houses. The most important thing is an agreement between two or more countries, but if such an agreement is reached, then the integration of digital currency can really replace SWIFT, because the payment and information about digital currency will be on a completely different settlement basis than it is now facility. The pilot will run between 2023 and 2024, but it will only involve 13 banks and a limited number of customers and transactions. The trial has been postponed because some laws are pending, but should start around the end of this month. A BRICS common currency could be a breakthrough that could greatly simplify settlements between our economies. But it's not easy, it's a long process.

Jinse Finance reported that U.S. Treasury Secretary Yellen said that the U.S. dollar should slowly depreciate as a reserve currency. The announcements come amid an international de-dollarization effort by many countries, including the BRICS economic bloc. Additionally, Yellen discussed the International Financial Institutions (IFIs) and their role as part of a broader economic and foreign policy toolkit. She referred to these institutions as promoting a more resilient global economy.

More and more countries are moving away from the dollar? 🇮🇶 Iraq issues dollar ban 🇻🇪 Venezuela ditches dollar in economic deal 🇿🇼 Zimbabwe Adopts Gold-Based Digital Currency Not Reliant on USD 🇸🇾 Syrian President Calls for Abandoning the Dollar 🇦🇷 Argentina plans to ditch the dollar and use yuan to pay for Chinese imports 🇧🇷 Brazil has repeatedly called and acted away from the dollar 🇫🇷 French President Emphasizes that Europe Needs Strategic Autonomy and Gets Out of U.S. Dependence 🇲🇾 Malaysia pledges to reduce reliance on US dollar 🇷🇺 Russia deepens relations with China, RMB becomes Russia's most important trading currency 🧱 BRICS countries are discussing developing their own currency to reduce dependence on the US dollar 🇮🇳 India offers rupees as an alternative to countries without dollars ⛩ ASEAN finance ministers discuss how to reduce dependence on the US dollar 🇨🇳 China takes multiple measures to reduce US dollar dependence 🇵🇰 Pakistan uses yuan to buy oil, not dollars 🌏 19 countries asked to join the BRICS to reduce dependence on the US dollar Is decoupling from the US dollar a global trend? Or just a blindfold.