Negotiations on New BRICS Currency Underway As Nations Push to Abandon US Dollar


A top Russian lawmaker says world leaders have officially started working on an agreement to create a new global currency that does not utilize the US dollar. Chairman of the State Duma Committee on the Financial Market, Anatoly Aksakov, is outlining the efforts of BRICS to create an alternative currency that would circumvent USD. BRICS is a group of strategically-aligned nations that currently includes Brazil, Russia, India, China, and South Africa. 


At a conference organized by Russia’s Parliamentary Newspaper, Aksakov said negotiations detailing how the new currency will work are now underway, and an agreement may be hammered out by the end of the year. The mechanics of the new currency from BRICS have not been finalized. 


However, it will reportedly be backed by gold and potentially additional precious metals and assets. Aksakov says American sanctions have gone too far, politicizing the dollar and triggering a movement away from America’s global currency dominance. “By linking its economy and currency to politics, the US is practically undermining the foundations of its dominance. I am sure that the share of the dollar will steadily decline in world trade.” BRICS itself appears to be on the cusp of a major expansion. A total of 19 additional countries are interested in joining the group, according to South Africa’s BRICS ambassador, Anil Sooklal. Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox Check Price Action Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check Latest News Headlines 


Source : [Negotiations on New BRICS Currency Underway As Nations Push to Abandon US Dollar]( by Daily Hodl Staff - countries BRICS US•400+The Daily Hodl by Daily Hodl Staff / May 02, 2023 logo


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act. How we keep your money safe.