- BRICS officially adopts cryptocurrencies for investment, marking a major economic shift.
- Putin announces the upcoming BRICS Pay platform during the BRICS Business Forum.
- The move highlights BRICS’ growing influence in global economic development over the West
The BRICS have officially adopted cryptocurrencies for investments.
The announcement was made by Russian President Putin at the BRICS Business Forum: Brazil, Russia, India, China, and South Africa will open investment in cryptocurrency. With this development, the door to new economic policies has been opened.
He used the occasion to announce that the BRICS Pay platform is going to go live.
The Announcement by Putin at the BRICS
This announcement came during the BRICS Business Forum currently taking place in Moscow, where Russian President Vladimir Putin described this decision as a turning point for the alliance.
The BRICS bloc has adopted cryptocurrencies for investments, bringing a new bullish impetus on October 18.
Putin claims that the BRICS will lead global economic development. No longer the West, but the countries that are part of the bloc known as BRICS will lead global economic development.
He stated this from the stage of the Business Forum currently taking place in Moscow.
Meanwhile, in Naples, from October 18 to 20, the first-ever G7 is being held, which also includes a session dedicated to Defense, given the hot topics igniting international political debate from Ukraine to Lebanon.
Putin’s statements come on the eve of the highly anticipated BRICS Summit 2024, which will take place next week.
During the summit, the bloc is expected to announce several new economic policies. In this context, the recently proposed blockchain-based BRICS Pay platform will be presented to the group’s members.
Conclusion
In conclusion, the adoption of cryptocurrencies by the BRICS and the imminent launch of BRICS Pay mark a significant change in the global economic balance.
With this move, the bloc positions itself as a leader in global economic development, opening new opportunities for the use of cryptocurrencies on an international scale.
