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The prospect of a "BRICS currency" is more accurately understood as a move towards de-dollarization and enhanced local currency trade within the BRICS bloc, rather than a single, unified currency like the Euro. While a unified BRICS currency is a long-term, highly complex ambition, the efforts to reduce reliance on the US dollar and develop alternative payment systems will undoubtedly have an impact on the crypto market. Here's a breakdown of the major effects and which coins might be more affected: Major Effects of BRICS' De-Dollarization Efforts on the Crypto Market: Increased Demand for Decentralized Alternatives (especially Bitcoin): Hedge Against Fiat Instability: If BRICS nations successfully reduce their reliance on the US dollar and create a more multipolar financial system, it could lead to increased volatility and uncertainty in traditional fiat currencies. This could push investors, both institutional and individual, towards decentralized assets like Bitcoin as a hedge against inflation and geopolitical risks, similar to how gold is seen. Narrative Strengthening: The "de-dollarization" narrative aligns strongly with Bitcoin's core principles of decentralization and independence from central bank control. This narrative could gain more traction and draw in new investors. Bypassing Sanctions/Restrictions: For countries facing sanctions or seeking to circumvent traditional financial systems, cryptocurrencies offer a potential avenue for value transfer and settlement, though regulatory hurdles remain. Russia, for instance, has explored using Bitcoin for international trade.   Impact on Stablecoins (especially USD-pegged): Reduced Demand (Long-Term): If BRICS countries successfully implement their own cross-border payment systems using local currencies or central bank digital currencies (CBDCs), the need for USD-pegged stablecoins like USDT and USDC for international trade might decrease within the bloc. Regulatory Scrutiny: As nations develop their own digital currency strategies, stablecoins, especially those linked to foreign fiat currencies, could face increased regulatory scrutiny or even restrictions within BRICS countries to promote their own digital assets. Rise of Local-Currency Pegged Stablecoins: We might see a rise in stablecoins pegged to BRICS national currencies, though this is less about challenging the dollar globally and more about facilitating local digital transactions. Potential for CBDC Development and Interoperability: Accelerated CBDC Rollouts: BRICS nations are actively researching and piloting their own CBDCs (e.g., China's Digital Yuan, India's Digital Rupee, Russia's Digital Ruble). The push for de-dollarization could accelerate these efforts and encourage interoperability between their CBDCs for cross-border payments. Blockchain Integration: The BRICS "Bridge" platform, which aims to use wholesale CBDCs and blockchain technology for cross-border payments, indicates a growing acceptance and integration of distributed ledger technology (DLT) in traditional finance. This could indirectly legitimize and foster innovation in the broader blockchain space. Increased Volatility (Short to Medium Term): Any major shift in global financial power, even if gradual, can create uncertainty in markets. The crypto market, known for its volatility, could experience significant price swings as these geopolitical and economic dynamics unfold. Which Coins Might Be More Affected? Bitcoin (BTC): Most Affected (Positively): As the largest and most decentralized cryptocurrency, Bitcoin is likely to be the primary beneficiary of any significant de-dollarization trend. Its narrative as "digital gold" and a hedge against fiat instability would be strengthened, potentially leading to increased adoption and price appreciation. It's often the first choice for investors seeking an alternative to traditional financial systems. USD-pegged Stablecoins (USDT, USDC): Most Affected (Potentially Negatively): These stablecoins, being directly tied to the US dollar, could see reduced demand within the BRICS bloc if local currency and CBDC-based payment systems gain traction for international trade. Their utility for bypassing traditional banking might diminish if new BRICS-specific alternatives are efficient and widely adopted. Major Altcoins (Ethereum - ETH, BNB, Solana - SOL, XRP): Indirectly Affected: The impact on these would be more indirect. If Bitcoin's value rises due to de-dollarization, it often pulls the broader crypto market up with it. Additionally, if the BRICS payment systems utilize blockchain technology, projects focused on scalable and efficient blockchain infrastructure could see increased interest or even direct integration opportunities (though this is more speculative). XRP has historically positioned itself for cross-border payments, so any major shift in that landscape could affect its long-term utility. CBDC-focused/Interoperability Protocols: While not specific "coins" in the same speculative sense, any blockchain projects or protocols that focus on facilitating interoperability between different CBDCs or traditional financial systems could see increased relevance and development, aligning with the technical goals of the BRICS nations. It's crucial to remember that the development of a BRICS "currency" or even a comprehensive alternative payment system is a complex, long-term process. While the discussions and initiatives are ongoing, significant challenges remain, and the impact on the crypto market will likely be gradual rather than immediate.

RT @dachshundwizard: Many who used to push boundaries in this space, the ones who actually build, are quietly disappearing. Not because th…

META HAS RECRUITED RUOMING PANG, A LEADING AI MODELS EXECUTIVE FROM APPLE, AS PART OF ITS AGGRESSIVE AI TALENT PUSH. PANG WILL JOIN META'S SUPERINTELLIGENCE TEAM, REFLECTING THE COMPANY'S INTENSIFIED FOCUS ON ADVANCED AI DEVELOPMENT.

$MGR | @Magmarerc $MGR has launched a few days ago, but has already secured partnerships with @Filecoin, @AethirCloud and @Scroll_ZKP. These are not simple partnerships, but integrations of $MGR with those. This just goes to show how capable the team is. Many connected people have dedicted their time to push $MGR long-term. Floor has been set over the last few days, just a matter of time before it breaks out.