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BRICS expansion could be a major topic of discussion as the total number of countries expressing interest in joining the alliance is growing in 2025. The 17th summit is scheduled to be held on July 7 and 8 in Brazil’s Rio De Janeiro. The 10-member bloc will decide the future of the alliance, and all decisions will be based on consensus. Also Read: BRICS: 2 Countries Settle Oil Trade in New Currency, Discard US Dollar A BRICS expansion in 2025 could also accelerate de-dollarization as more countries look to end reliance on the US dollar. Apart from the sanctions, Trump’s recent tariffs are also making emerging economies distrust the White House policies. Read here to know how many sectors in the US will be impacted if BRICS ditches the dollar for trade. Also Read: BRICS: When Barack Obama Predicted the US Dollar’s Future 44 Countries Show Interest to Join BRICS as Expansion Talks Grow in 2025 Source: ShutterStock Vietnam is the 44th country that has expressed interest in join...

Russia has long been trying to break the traditional market chains by leading the global financial regimes at its own pace. However, with the US sanctioning Russia and removing it from the SWIFT system, the country has since then found lucrative methods to stabilize its economy, including utilizing diversification of assets to strengthen its reserves. Here’s how much gold Russia holds at present that has led the nation to earn the label of a country hoarding the maximum amount of precious metal in its reserve. Also Read: 2 Things To Expect From Donald Trump’s Digital Asset Rendezvous On March 20 How Much Gold Does Russia Have? Source: Watcher Guru Russia is one of the leading gold holders in the world, with its reserves valued at $217.4 billion as of March 1st, 2025. The nation has diversified away from the dollar into gold, which now comprises 34.4% of the nation’s total foreign reserve. “Russia has expanded its gold reserves to a record high, reaching $217.4 billion as of ...

The de-dollarization agenda is advancing globally as like-minded countries are settling trade in local currencies and not the US dollar. In the latest, Russia and Kazakhstan mutually paid 80% of their trade in national currencies sidelining the US dollar. The development has strengthened ties between the two neighboring countries and are now aiming to continue the process. The move will add strain on the US dollar’s prospects as nations sideline it for cross-border transactions. Also Read: 5 US Commercial Sectors To Be Affected If De-Dollarization Advances Read here to know how many sectors in the US will be affected if the de-dollarization agenda grows stronger globally. The USD could lose out on the global supply and demand mechanism in the currency markets. If the demand for the USD dips, the American economy could face inflation where the costs of daily essentials could skyrocket. Also Read: Amazon Stock: Buy AMZN, Target $270 to $285 Amid AI Boom De-Dollarization: Russia & Ka...

1. Japan Advances Economic Stimulus, Proposes 20% Unified Cryptocurrency Tax link The Japanese government has announced plans to advance a new economic stimulus package, expected to receive approval by the end of 2024. The proposed tax reforms include changes to income tax, corporate tax, and cryptocurrency taxation. Currently, Japan’s policy on crypto taxes relies on a vague and fluctuating “miscellaneous tax,” which can levy up to 55% on transactions. Opposition parties are advocating for a standardized 20% tax rate on digital assets. 2. South Korea to Implement 20% Crypto Gains Tax in 2025 link South Korea’s ruling Democratic Party plans to enforce a 20% tax on cryptocurrency gains (22% including local tax) starting in 2025, without further delay. Additionally, the tax exemption threshold will be raised from 2.5 million KRW (approximately $1,795) to 50 million KRW (around $35,919). The revised bill is set to be voted on by the National Assembly’s Tax Subcommittee on November 25 and ...

Russia is currently mulling over legalizing stablecoins pegged to either the US dollar or gold to conduct international payments. Per Izvestia, a local Russian outlet, Putin’s administration is currently conducting open discussions on the said development, with proposals ready to escalate the talk to the next level. Also Read: ASEAN: Malaysia Calls For Asian Monetary Fund To Derail US Dollar Russia Wants to Legalize Stablecoin Payments Source: pics.alphacoders.com According to Izvestia, Russia is currently contemplating legalizing stablecoin for global trade and international payments. Deputy chairman of the central bank, Alexey Guznov has already confirmed the aforementioned development. Elaborating more on details, Guznov shared that the real question would be how to regulate the entire chain of transactions in an effective manner. The plan of action entails allowing individuals to transfer these assets to the Russian Federation, accumulate those assets there, and later use them...

The US dollar has emerged victorious among its competitors, driving the currency dominance game to new levels. The USD has managed to gain prominence against global contenders, defeating competitors like the Yuan and Ruble in its wake.  However, the ongoing USD surge spell might get jinxed sooner or later as competitors around the world are inching towards magnifying the ditching dollar narrative. With ballooning US debt metrics, credit scores, and inflationary pressure, how long would one assume USD’s dominance to stay unscarred?  Also Read: What’s Happening Between the US Dollar & Japanese Yen in 2024? US Dollar’s Rise, Zenith, and Fall Source: stock.adobe.com The US dollar has emerged as one of the strongest currencies to lead the global financial space. The USD has been performing its best since the start of 2024, despite encountering eroding economic narratives. Per NYT, every major currency has fallen against the USD. Nearly 150 global curre...

By tracking crypto transactions, the Russian government seemingly wants to make a regulatory field for state corporations to enter the market. A Russian bank has started tracking its customers’ activities in crypto as the government desires to form regulatory conditions for state corporations to enter. In an interview with Russia’s state newspaper, Parlamenstakaya Gazeta, Russian lawmaker Anton Tkachev said the initiative is just a pilot so far, but eventually the system might be rolled out at the state level should the pilot be a success. Tkachev did not disclose the bank nor on what basis it determines crypto -oriented customers. You might also like: FTX’s stolen crypto funds linked to Russian cybercrime networks Eventually, the idea is apparently to allow state corporations to conduct settlements with crypto currencies as Western sanctions have limited Russia’s options to keep its business on the international level. Although no details on the pilot ...

The sale has sparked chatter in local crypto enthusiasts, who say the two sites appear so similar that CommEx could be a "Russian version" of Binance.US. Cryptocurrency exchange Binance has claimed that it will fully quit Russia by selling its local business to a completely new exchange known as CommEx. While promising its customers a “smooth” migration, Binance hasn’t provided much information about its successor in Russia. At the time of the announcement, little is known about CommEx’s founders or background. The exchange was launched on Sept. 26, 2023, or just one day before Binance announced the sale of its business to the newly created exchange for an undisclosed amount. A spokesperson for CommEx didn’t respond to multiple questions from users about the company’s owners or executives in the official Telegram group. The person claimed that CommEx is registered in Seychelles and will serve its customers as a global exchange, focused on two main regions: the Commonwealth ...

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...

Reuters has reported that Saudi Arabia is buying record levels of Russian Oil and laundering it into the European market to evade various US sanctions. Moreover, ship tracking data showed traders are stocking the fuel at the Fujairah hub in the UAE and in Saudi Arabia. The report notes that the Middle East is rapidly positioning itself as a prominent supplier of industrial fuel to both Europe and Asia. Moreover, they are adding stocks to Asia, as Russian oil only adds to the output of refineries in Saudi Arabia and Kuwait. Saudi Arabia is buying Russia n oil at record levels and laundering it onto the European market to evade US sanctions. pic.twitter.com/0uj8wSIpDE — Watcher.Guru (@WatcherGuru) April 11, 2023 Russian Oil Bought at Record Levels According to a new report from Reuters, Saudi Arabia has been purchasing Russia n oil at record levels and laundering it onto the European market. Specifically, this action is avoiding various US sanctions. The report n...