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Russian Presidential Advisor Yury Ushakov states that the BRICS group intends to build a blockchain-based payment system. The BRICS group envisions solidifying its position in the international monetary and financial system. The new payment system aims to introduce a convenient system that could replace the use of US Dollars. Yury Ushakov, an advisor to Russian president Vladimir Putin advisor, recently announced that the BRICS group has been preparing to build a blockchain-based payment system. Ushakov asserted that the group intends to solidify its position in the international monetary and financial system. The BRICS group is an intergovernmental organization comprising emerging economies like Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates. Though the term BRICS started as an acronym for Brazil, Russia, India, Canada, and South Africa, it later expanded to other countries. As the countries converge...

The debt ceiling talks remain in focus and are likely to dictate the price action in the S&P 500, DXY and cryptocurrency markets in the near term. The debt ceiling negotiations in the United States are keeping traders on the edge. JPMorgan Chase CEO Jamie Dimon recently told Bloomberg on May 11 that a possible sovereign default by the U.S. government could create panic in the stock markets, resulting in heightened volatility. The next big question troubling crypto investors is how will Bitcoin react to such an event. Bloomberg’s latest Markets Live Pulse survey indicates that Bitcoin (BTC) could be the third most preferred asset class behind Gold and U.S. Treasuries should the U.S. government fail to prevent a debt default. Daily cryptocurrency market performance. Source: Coin360 Billionaire fund manager Paul Tudor Jones told CNBC that he is holding his Bitcoin and will always have some portion of his portfolio in it. What are the important support and resistance levels to watch ...

Countries around the world may reduce dependency on the U.S. dollar and create a bipolar global currency system, says Nouriel Roubini. The Stern School of Business professor at New York University said that world leaders are exploring alternative reserves to eliminate the dollar ’s dominance. In a series of interviews, Roubini stressed that China, Russia , and Brazil, might create a substitute monetary system that might not make use of the USD for international trade settlements. Also Read: China’s National Debt Grows 3x Faster Than the U.S. In 12 Months Roubini mentioned that the process might not happen overnight but Americans could eventually feel the dollar’s strength fading. He called the recent banking crisis, a prominent catalyst for the fall of the USD. The trust in the dollar is waning due to the banking failures making other countries ditch the reserve currency. The strained ties between the United States and China led to the idea of creating a new currency, h...

Join Our Telegram channel to stay up to date on breaking news coverage In October, the Investment Industry Regulatory Organization of Canada registered Toronto-based Coinsquare as the country’s first cryptocurrency trading company (IIROC). This is significant since Coinsquare is now forced to disclose its financial condition on a regular basis and investors’ monies are now protected by the Canadian Investment Protection Fund in the event of collapse. This news serves as a reminder of the unique aspects of Canadian crypto currency regulation. The nation outperforms the neighboring United States in its experiments with crypto currency exchange-traded funds (ETFs), pension fund investments, and central bank digital currency (CBDC) efforts—even though it still has a somewhat rigid licensing process for producers of virtual assets. A time of limited dealers Since none of its rivals can now claim the same legal footing, Coinsquare, which also happens to be Canada...