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BRICS CURRENCY: KREMLIN SAYS NO PLANS FOR A COMMON CURRENCY
According to the Kremlin, Russia and BRICS do not have plans for a common currency, contrary to previous reports. Following threats from US President Donald Trump to impose tariffs on the BRICS nation for creating such a currency, the bloc insists that no such plans exist.
Trump on Thursday warned BRICS member countries about replacing the U.S. dollar as a reserve currency by repeating a threat of 100% tariffs he had made weeks after winning the November presidential election.
“The idea that the BRICS Countries are trying to move away from the Dollar, while we stand by and watch, is OVER,” the President said on Truth Social.
“We are going to require a commitment from these seemingly hostile Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy.“
Kremlin Denies BRICS Currency Developments
However, Kremlin spokesman Dmitry Peskov says BRICS, of which Russia is a founder, was not talking about setting up its own currency, but merely about creating joint investment platforms. He added U.S. experts should brief Trump in more detail about what BRICS is doing.
BRICS has been in active discussions about developing its own common currency for years. The talks have become more concrete in the last year, with more nations joining in and interest in the bloc growing.
Despite the story of BRICS looking to overthrow the greenback, the bloc recently insisted it’s not pursuing de-dollarization. Peskov’s statement doubles down on this, saying that the bloc never wanted to abandon the USD altogether, simply providing an alternative for countries who have lost trust in the US currency.
More countries are ditching the US dollar for local currency alternatives as the greenback faces continuous pressure. Donald Trump’s tariff plan also stands to put the greenback in more jeopardy, isolating it from countries out East. While Trump is looking to save the US dollar from opposition, he could in turn be adding to the nation’s current economic rivals.
@ Newshounds News™
Source: Watcher Guru
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XRP LAWSUIT NEWS: CAN ACTING SEC CHAIR MARK UYEDA DROP THE RIPPLE CASE?
▪️Ripple CEO Talks to Trump – Discussions heat up over XRP as a potential U.S. national digital asset reserve.
▪️Ripple Case Removed from SEC Website – What does this move indicate? Settlement rumors spark speculation.
▪️Acting SEC Chair’s Role – Why it’s unusual for an Acting Chair to drop Ripple’s high-profile case.
The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has fueled widespread speculation about a potential settlement. Recent developments suggest that the resolution of this case could be closer than expected, with some pointing to key signs indicating a possible outcome.
Ripple’s CEO Talks to Trump About XRP as National Digital Reserve
One factor intensifying speculation is the revelation that Ripple’s CEO, Brad Garlinghouse, has had direct discussions with President Donald Trump regarding XRP as a potential U.S. national digital asset reserve. While the idea of XRP becoming a national reserve asset remains uncertain, the fact that such discussions are happening is seen as a major development.
Ripple Case Removed from SEC Website: What Does It Mean?
The recent removal of the Ripple case from the SEC’s website is also being widely discussed. While this move has sparked rumors about an imminent settlement, experts warn against reading too much into it.
Sherrie, a well-known expert in the XRP community, said that the SEC didn’t move the case; it’s actually been concluded and is now listed under Award Claims. Once the case was appealed, it received a new case number and can be found on the Court of Appeals website.
Challenges in Dropping the Case: Acting SEC Chair’s Role
When a user enquired about why acting Chairman Mark Uyeda has not yet dropped the case, she explained that it would be unusual for an acting SEC Chair to drop a high-profile case like Ripple’s. Normally, these big cases are handled by the official Chairman
It would be unusual for an Acting Chair to take such a liberty as to drop a high profile case such as Ripple’s. Generally these big cases are dealt with by the actual Chairman. Atkins has an estimated time of getting approved by the Senate around April,
She Wrote.
@ Newshounds News™
Source: Coinpedia
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CIRCLE’S USDC STABLECOIN OFFICIALLY GOES LIVE ON LAYER-1 CHAIN APTOS (APT)
Circle’s dollar-pegged stablecoin USDC has officially gone live on the layer-1 chain Aptos (APT).
Aptos’ native token, APT, is up on the news, surging by 5.5% in the past 24 hours.
The 38th-ranked crypto asset by market cap is trading at $7.91 at time of writing.
Coinbase, the top US crypto exchange, has already added Aptos-native USDC to its listing roadmap.
In November, Aptos first announced that it planned to integrate USDC, as well as the fintech giant Stripe’s payment services.
Stripe will provide a fiat on-ramp for the Aptos network. The payments firm reemerged in the crypto sector in October when it rolled out support for USDC settlements. It had previously enabled payments made using Bitcoin (BTC) until 2018, when the firm discontinued its support, citing BTC’s lack of utility as a payments rail.
Native USDC stablecoins are officially issued by Circle and are redeemable 1:1 for US dollars. USDC is the second-largest stablecoin with a market cap of more than $53 billion, second only to Tether’s USDT, which has a market cap of nearly $140 billion.
Despite its gains in the past day, APT remains down by more than 5% in the past seven days and more than 10% in the past month.
@ Newshounds News™
Source: DailyHodl
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