Russia Spearheads BRICS' Bold Quest for IMF Influence
Russia leads BRICS in a strategic push for increased IMF influence, signifying a shift in global financial power dynamics.
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Russia leads BRICS in a strategic push for increased IMF influence, signifying a shift in global financial power dynamics.
The expansion of the BRICS alliance and the shift towards local currency trade mark a significant reorientation in global economic dynamics. As over 20 nations express interest in joining BRICS, the potential departure from the US dollar in trade raises concerns about its impact on the American financial sector. The upcoming 2024 BRICS summit could indeed be a turning point, challenging the dominance of the US dollar and reshaping global trade dynamics.
The aim is to facilitate discussions on the future of Web3 beyond 2024 and the evolving societal and economic impacts of AI.
Speakers included Paolo Ardoino, Chief Technology Officer (CTO) of Tether, Circle's Strategy and Policy Vice President Yam Ki Chan, OKX's Global Chief Commercial Officer Lennix Lai, and many others.
An economic alliance of nations known as BRICS is reportedly preparing to introduce a new...
Find out what highlights the summit entails.
The country's central bank, Bank of Russia, has reportedly admitted that cross-border payments in crypto are inevitable in the present geopolitical conditions.
Bank of Russia started CBDC testing in 2022 and expects to implement an official banking rollout in the year of presidential elections in 2024.
Cryptocurrencies can be used in cross-border or international payments only if they don’t get into Russia’s domestic financial system, the Bank of Russia governor said.
Russia's central bank sees the digital rubble as the only technological payment option to support.