russiacrypto

Dedollarization Accelerates: Russian Official Details BRICS Currency Shift

BRICS is surging ahead with unstoppable momentum, rapidly abandoning the U.S. dollar, building resilient payment systems, and forging a historic new economic frontier beyond Western control.

Lavrov Confirms BRICS Ditching US Dollar Fast

Russian Foreign Minister Sergey Lavrov has highlighted the growing use of national currencies among BRICS members in place of the U.S. dollar and other Western currencies, and discussed the possibility of a single BRICS currency. In an April 28 interview with Brazilian newspaper O Globo, Russian Foreign Minister Sergey Lavrov emphasized the importance of developing resilient settlement systems, according to a report by Tass. He explained:

We have been working within BRICS to ensure that there are no disruptions when carrying out payments and have been quite effective in our efforts.

He cited a significant shift in Russia’s transactions within the bloc, stating: “To give you an example, the rouble and currencies of our friendly countries accounted for 90% of Russia’s settlements with BRICS countries in 2024.”

Stressing broader economic trends, Lavrov remarked: “No one wants to suffer from sanctions, considering that the West has been imposing them on undesirable countries by exploiting its monopoly on financial markets. Using reserve currencies as a competitive tool is unacceptable. Payment transactions can be blocked for political reasons, even when dealing with supplying socially important goods.” Amid this background, Lavrov pointed to the increasing fragmentation of the global economy as driving nations of the Global South and East toward dedollarization “which is attributable to the lack of trust towards the Western-led international financial institutions.”

BRICS countries are actively constructing a cross-border payment and settlement infrastructure, aiming to expand the use of national currencies and create more autonomous systems free from external political pressures. Lavrov stated that these developments reflect one of the defining global economic movements currently underway.

In addressing the future potential of a common currency within BRICS, Lavrov was cautious, stressing that conditions must first become favorable: “It would be premature to discuss a transition to a single currency for BRICS,” the Russian official stated, adding:

We can come back to the question about a common currency or a single payment unit for BRICS once the necessary financial and economic conditions are in place.

Kremlin spokesman Dmitry Peskov, speaking in January, emphasized that BRICS at present is concentrating on establishing investment platforms in third countries, rather than pursuing monetary union. His comments responded to U.S. President Donald Trump’s warnings of tariffs on BRICS nations if they were to abandon the U.S. dollar.

#BinanceSquareTalks #RussiaCrypto #Write2Earn!

No confirmed reports exist of a meeting in Rome involving Donald Trump, Russian President Vladimir Putin, and Ukrainian President Volodymyr Zelenskyy to stop the Russia-Ukraine war. Recent news indicates Trump and Zelenskyy met one-on-one at the Vatican basilica on April 26, 2025, before Pope Francis’s funeral, aiming to revive ceasefire efforts. The White House called the meeting “very productive,” and Zelenskyy described it as potentially “historic.” However, Putin did not attend the funeral, and no trilateral meeting was reported. Trump expressed doubts about Putin’s willingness to end the war, citing recent Russian missile strikes on Ukrainian civilian areas, and suggested exploring sanctions. Earlier, Trump claimed a peace deal was “very close,” but Ukraine rejects proposals involving ceding Crimea. Market recovery claims linked to such a meeting are unverified and likely speculative.
#TrumpCrypto #RussiaCrypto #UkraineRussia #TRUMP #noordanish $BTC $ETH $BNB

A Russian citizen from Yakutsk has been sentenced to seven years in prison for providing financial support to the Ukrainian armed forces through cryptocurrencies. This is the first time a Russian court has issued a public verdict regarding the use of cryptocurrencies to finance a military organization that Russia considers hostile.
Financial support is classified as treason.

🔔 MARKET MOVING NEWS! (13/03/25)

1️⃣ OKX Europe Acquires MiFID II-Licensed Company in Malta ⚡️

Crypto exchange OKX’s European arm has reportedly acquired a Markets in Financial Instruments Directive (MiFID II) license - a key European Union license that will allow the company to offer derivatives products throughout the region. The license was secured by acquiring an unnamed Malta-licensed firm with a MiFID II license. The entity is expected to become operational later this year, once the exchange gets approval from the Malta Financial Services Authority (MFSA).

2️⃣ Video Platform Rumble Discloses $17 Million In Bitcoin Treasury Holdings 💸

According to a recent announcement, Nasdaq-listed video-sharing platform Rumble purchased 188 BTC at an average price of $91,000 per coin, i.e., it invested roughly $17.1 million in BTC. The move is part of Rumble’s previously disclosed plan to adopt a bitcoin treasury strategy and allocate up to $20 million of its cash reserves to bitcoin. Rumble’s CEO Chris Pavlovski views this move as part of a strategic expansion into crypto and a hedge against inflation.

Pavlovski states,

These holdings have the potential to serve as a valuable hedge against inflation and will not be subject to dilution like so many overprinted government-issued currencies. [We] are proud to officially hold Bitcoin as we continue to grow and engrain crypto into our company’s DNA.

3️⃣ Bank Of Russia Proposes To Allow Crypto Purchases By Select Investors 👀
#RussiaCrypto
Russia’s central bank has unveiled a new proposal that seeks to allow a “limited circle of Russian investors” to buy and sell cryptocurrencies during a three-year testing period. Specifically, the proposal would allow “‘particularly qualified’ investors,” those with investments in stocks and deposits exceeding 100 million rubles (about $11.5 million) or with income in the past year of more than 50 million rubles (approximately $5.7 million), to invest in crypto. The central bank also proposed to allow qualified companies to become participants in the experiment.

The bank stated,

The introduction of the EPR is aimed at increasing the transparency of the cryptocurrency market, forming standards for the provision of services, expanding investment opportunities for experienced investors who are ready to take on increased risks.

4️⃣ Garantex Administrator Arrested In India At Request Of US Authorities 🔒
#GarantexArrest #USGovernment
According to a TechCrunch report, law enforcement authorities in India have arrested Aleksej Besciokov - one of the two alleged operators of Garantex, a Russian cryptocurrency exchange sanctioned by the European Union and the U.S. government. The arrest was reportedly made in the coastal municipality of Varkala, where Besciokov was vacationing with his family.

According an official statement released by the Indian government, Besciokov’s arrest was made at the request of the U.S. government, who claimed Besciokov was planning to flee India. The arrest was based on US charges of conspiracy to commit money laundering, conspiracy to operate an unlicensed money-transmitting business and conspiracy to violate the International Emergency Economic Powers Act.

5️⃣ Binance Secures $2 Billion Investment From Abu Dhabi Firm MGX 💰#MGXBinanceInvestment
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Crypto exchange Binance has reportedly secured a $2 billion investment from MGX, an Abu Dhabi-based sovereign wealth fund that invests in AI and tech. Notably, the investment marks the first institutional placement in the exchange and the first digital asset-focused investment for MGX. According to Binance, the transaction was fully paid in stablecoins and represents the largest single investment in a crypto firm to date.

MGX CEO and Managing Director Ahmed Yahia stated,

In a recent development, Deribit crypto exchange has announced its exit from Russia due to sanctions introduced by the European Union, according to the statement posted on its website. As a Dutch-owned platform, Deribit must adhere to EU sanctions. The exchange will no longer accept Russian nationals or residents as clients, unless exceptions apply.
” Due to EU sanctions against Russia, Deribit is no longer able to accept Russian nationals and Russian residents as its clients, unless an exception applies. Since Deribit’s parent company is Dutch, these EU sanctions are relevant to us,” the crypto exchange noted.
Due to EU sanctions, Deribit has restricted access to its platform for Russian nationals. Russian nationals can only use the exchange’s services if they are also citizens of an EEA member country or Switzerland, or if they have permanent residency in one of these countries.
Deribit Limits Russian Access: Some Residents Can Use Platform
For example,Russian nationals residing in Ireland or that are also nationals of Denmark can use Deribit services. However, Russians residing in the UAE are still prohibited from using the platform. Furthermore, the exchange does not make exceptions for Russian companies, which means they are also unable to access Deribit’s services.
An email from Deribit to clients explains that Russian accounts will enter “reduce-only mode” starting February 17, 2025, meaning traders can only close positions or place new orders that reduce risk. All open positions will be closed on March 29, 2025, but there will be no restrictions on withdrawing assets.
Originally founded in the Netherlands in 2016, Deribit is now based in Panama. This move followed a 2020 EU directive that required crypto platforms to identify customers through new rigorous anti-money-laundering (AML) rules.
In a statement, Deribit stated that they believe crypto markets should be accessible to everyone. They found the new regulations imposed by the EU to be too restrictive and costly for many traders. As a result, they chose to move to a more favorable regulatory environment.
#CryptoRegulations #RussiaCrypto #Write2Earn #BitcoinWhaleMove