The post Cryptocurrencies Take Center Stage at BRICS Summit as Russia Pushes Bitcoin for Imports appeared on BitcoinEthereumNews.com.

As the BRICS Summit enters the third day, crypto has been a major talking point, with Russia pushing for crypto payments for imports amid sanctions. Just as important for the Summit is the show of unity between Russia, China, and India, the three countries best positioned to challenge the US at an international level and threaten the US dollar dominance. The BRICS Summit this week was bound to be a big one, and it hasn’t disappointed. The event brought together some major economic powers and powerful leaders from the BRICS nations and beyond to discuss pertinent economic and geopolitical issues affecting them and possible solutions. Crypto has emerged as a major talking point, with host Russia among its biggest proponents. The Summit, which kicked off on Tuesday, was held in the city of Kazan and brought together over 30 nations. It was the first to be hosted in Russia since BRICS expanded from the original five to include Egypt, UAE, Iran and Ethiopia. According to multiple reports, crypto was one of the main talking points. Russia has especially been vocal about using digital assets to enhance trade with its allies in the face of crippling sanctions over its conflict with Ukraine. One source claims that at the Summit, Russian legislators pushed the idea of local miners selling BTC to local investors who can then use it to pay for goods from global partners. As the BRICS Summit Kicks Off, Top Lawmakes Are Pushing the Idea that Russian Miners Could Sell Their #Bitcoin to International Buyers, Who Would Use BTC and Other Crypto to Pay for Imports, Effectively Bypassing Western Sanctions. 🧵 pic.twitter.com/AyI8Km64Y1 — matthew sigel, recovering CFA (@matthew_sigel) October 23, 2024 The push for Russia to use crypto for international payments isn’t new. Since the Ukraine conflict started, Russia has…

---

Filed under: News - @ October 24, 2024 1:22 pm