According to Caixin, recent reports circulating online about the so-called 'BRICS Pay' system being piloted in China have been confirmed to be questionable. Relevant departments stated that Chinese monetary authorities are not aware of the existence of 'BRICS Pay', have not participated in related projects, and there is no claim of having launched a pilot plan. 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 tactic in the cryptocurrency field, aimed at misleading the public into investing, and should be approached with caution. Previously, it was reported that Trump demanded BRICS countries use the US dollar, otherwise they would face a 100% tariff and bid farewell to the US market.