Crypto Daily – The BRICS nations discussed the possibility of using and other cryptocurrencies for payments on imports during the BRICS Summit this week. The use of crypto among the BRICS countries would aim to counter the use of international sanctions.
BRICS investigate US dollar alternatives
It was widely expected that an alternative to the US dollar world reserve currency would be on the agenda at the BRICS Summit which ended on Thursday. However, even though a symbolic banknote was featured, it appears that there was more emphasis on discussing trade in local currencies.
It seems that the BRICS leaders continue to recognise the US dollar as the primary currency for world trade, but they are also cognizant of the need for alternative currencies when political sanctions forbid the use of the dollar by member nations.
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