#Moscow Says #Russia and #China Must Cooperate on #CBDC Regulation

The Russian and Chinese Central Bank must cooperate on CBDC regulation, the Russian Prosecutor-General has claimed.

The comments come just days after the State Duma voted in favor of a bill that will allow the Moscow-based bank to begin “real-world” testing on its digital ruble.

The Russian Central Bank wants to begin its pilot in conjunction with 13 domestic commercial banks early next month.

Beijing, meanwhile, is in the later stages of its own digital yuan pilot.

BRICS Are Planning Some Major Secret Announcements This Year. 🇷🇺🤐

As the world gears up for the BRICS Summit in Kazan this October, anticipation is reaching a fever pitch. The gathering of Brazil, Russia, India, China, and South Africa promises to be more than just a routine diplomatic event; it could herald significant shifts in the global economic landscape. Behind closed doors, whispers abound of secret announcements and game-changing decisions poised to emerge from this exclusive forum.

At the heart of speculation are the intentions of Russia and Brazil, two economic powerhouses set to unveil major initiatives that could shake the foundations of international finance. Talks of de-dollarization and the potential introduction of a new currency are rife, hinting at a seismic shift away from traditional monetary systems.

Brazil's dual role as host of the upcoming G20 Summit in Rio de Janeiro adds another layer of intrigue. With the eyes of the world upon them, BRICS members are expected to leverage this platform to assert their collective influence and reshape global economic discourse.

Yet, it's not just about consolidating power among existing members. Expansion looms large on the horizon, with the founding nations signaling their openness to welcoming new members into the fold. This move towards inclusivity could pave the way for a more diverse and dynamic alliance, challenging the dominance of traditional Western powers.

Led by Russia's deputy foreign minister Sergey Ryabkov, efforts to integrate new members seamlessly underscore the alliance's commitment to growth and cohesion. As countries from the Global South vie for membership, the BRICS alliance stands poised to undergo a significant transformation, signaling a shift towards a more multipolar world order.

The Kazan summit is poised to unveil secret announcements and decide on new membership, attracting global attention. Speculation is rife about groundbreaking developments, promising to reshape geopolitics.

#BRICS #Russia #Moscow #Kazan