Leaders from the BRICS countries (Brazil, Russia, India, China, and South Africa) discussed the role of cryptocurrency in de-dollarization at the sixteenth annual BRICS Summit in Kazan, Russia. The Presidents of Russia, China, and Iran emphasized the need for new digital platforms and proposed the use of blockchain technology and central bank digital currencies (CBDCs). The proposed BRICS Pay system, based on blockchain technology and CBDCs, aims to facilitate secure payments and reduce reliance on the US dollar. The summit also saw discussions on the use of Bitcoin and other cryptocurrencies for imports, further highlighting the importance of digital assets in the de-dollarization efforts.



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