Former U.S. Rep. Ron Paul warns the BRICS alliance will unveil a 'Rio Reset' strategy at the July summit in Rio de Janeiro, challenging the dollar's 80-year dominance. He cautions this could undermine U.S. purchasing power and urges gold as a hedge.
BRICS members are discussing independent payment and settlement infrastructure, including cross-border mechanisms and BRICS Clear, to reduce dependence on Western-led financial systems.
The Trump administration imposes 50% tariffs on all Brazilian imports, citing political and censorship issues. Brazil's Lula vows retaliation. The escalating trade tensions could accelerate BRICS de-dollarization, potentially benefiting Bitcoin as a safe-haven asset.
Nedbank chief economist Nicky Weimar analyzes the challenges of a common BRICS currency to rival the U.S. dollar. She notes that only China has reserve potential but its capital controls prevent the yuan from becoming a global reserve currency, making the goal a long shot.
On June 13, 2025, Brazil announced Vietnam as the 10th partner country of BRICS, expanding the framework launched at the 2024 Kazan summit. With nearly 100 million people and a dynamic economy, Vietnam adds weight to the bloc's push for multipolarity and South-South cooperation, despite coordination challenges.
SWIFT data reveals that the US dollar's share of global FX transactions reached a record 46% in July, while the Chinese yuan surpassed 3% for the second time. De-dollarization efforts led by BRICS nations are boosting local currencies, but economists doubt the yuan can challenge the greenback soon.
SWIFT data shows the US dollar's share of FX transactions hit a record 46% in July, while the Chinese yuan exceeded 3% for the second time. Despite de-dollarization efforts by BRICS, experts argue the dollar's hegemony remains unchallenged.
President Putin's new crypto law, effective Nov 1, expands state control over digital assets, enabling regional mining bans, pool prohibitions, multi-agency transaction tracking, and transferring mining registry to tax authorities.
