Odaily Planet Daily reported that according to Caixin, recent rumors circulating online about the so-called 'BRICS Pay' system being piloted in China have been confirmed to be questionable. Relevant authorities stated that the Chinese monetary authorities are not aware of the existence of 'BRICS Pay,' have not participated in related projects, and there is no claim of initiating a pilot program. It is reported that 'BRICS Pay' claims to be a decentralized multilateral cross-border payment system jointly launched by BRICS countries, and an English and Chinese version of its 'official website' has appeared online, attracting attention. Many industry insiders pointed out that this may be a false advertising scheme in the cryptocurrency sector, aimed at misleading the public into investment, and caution is advised. Previously, it was reported that Trump demanded BRICS countries use the US dollar, or face 100% tariffs and exit the US market.