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WHEN IS THE BRICS SUMMIT IN 2025?
Brazil will chair the BRICS summit in 2025 under the helm of President Luiz Lula da Silva. The alliance will reinforce its commitment to reshape the global order and usher their economy into a new financial territory. Apart from discussing financial issues, the bloc will also make decisions on climate change and global governance.
The BRICS alliance will collectively collaborate on policymaking at the 2025 summit and represent the population of developing nations. This year’s summit is important as the nine-member bloc will decide on concrete steps to strengthen their economies. The move could reshape the geopolitical landscape and challenge the Western-dominated global financial order.
When & Where Is The Next BRICS Summit in 2025?
The next BRICS summit in 2025 is scheduled to take place in Brazil’s Rio De Janeiro from July 6th to 7th. The 17th summit will discuss de-dollarization, strengthening of local currencies, new trade deals, and also rewrite policies favoring developing nations. In addition, the alliance might also consensually decide about inducting new countries into the bloc.
Several leaders have hinted that the 17th BRICS summit in 2025 could begin discussions about alternative payment options to the US dollar. Brazil and India have confirmed that they do not support the formation of a BRICS currency. They are looking at various methods to settle cross-border transactions in local currencies.
“This is being discussed in BRICS (2025 summit), at the initiative of (Brazilian President Luiz Lula da Silva). The previous summit stated a decision on the necessity of developing a proposal on alternative payment platforms through finance ministries and central banks.
Such proposals have been made, they suggest, in particular, the creation of a so-called trans-border payment initiative, the creation of a reinsurance company, and the BRICS Clear settlement and depositary infrastructure,” said Russian Foreign Minister Sergey Lavrov.
@ Newshounds News™
Source: Watcher Guru
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XRP NEWS TODAY: CLOSED-DOOR MEETING FUELS SPECULATION OVER RIPPLE LAWSUIT DISMISSAL
▪Ripple vs SEC’s closed-door meeting sparks speculation about lawsuit being dismissed soon.
▪Political pressure increases as Senator Lummis challenges SEC’s crypto regulatory approach.
▪Ripple’s XRP dropped by 8% but lawsuit dismissal could push price toward $3.20
The U.S. Securities and Exchange Commission (SEC) held a closed-door meeting on February 27, 2025, sparking speculation about the future of the Ripple lawsuit. With the SEC recently dropping cases against major crypto firms like Coinbase, Uniswap, and Robinhood, many wonder if Ripple could be next.
Could the SEC End the Ripple Case?
The SEC sued Ripple in December 2020, saying the company sold XRP as an unregistered security. However, Judge Analisa Torres ruled in 2023 that XRP itself is not a security, weakening the SEC’s case.
Now, with increasing pressure on the SEC, people believe the agency might be ready to move on.
At the recent SEC meeting, officials discussed legal matters and settlements. While the details are secret, many think the Ripple case may have been included. Former SEC lawyer Marc Fagel does not believe this is a sign of progress, but pro-XRP lawyer Bill Morgan is confident that Ripple has the upper hand.
Political Pressure May Shake the Market
Senator Cynthia Lummis recently criticized the SEC’s approach to crypto regulation, stating that most digital assets are not securities under the Howey Test. Meanwhile, this aligns with Judge Torres’ ruling in the Ripple case, further strengthening Ripple’s position.
No official decision has been announced yet, but the next key date is April 16, when Ripple must submit its reply to the SEC’s appeal. If the SEC withdraws before then, it could mark the end of the long-running case, paving the way for a brighter future for XRP.
What Next For XRP?
As of now, XRP’s price is trading around $2.03 reflecting a drop of 8.19% with a market cap hitting $142 billion. However, many crypto experts believe that if the SEC drops the case, XRP could rise sharply. Some even predict a jump toward $3.20.
Meanwhile, there is also talk if Ripple lawsuits get dismissed, it will open the door for the approval of an XRP exchange-traded fund (ETF), which could push XRP’s price even higher.
@ Newshounds News™
Source: Coinpedia
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