A South African crypto investment platform has expressed hopes that an asset recovery proposal will result in users regaining access to funds blocked after its custody partner froze withdrawals. The crypto platform said it has also engaged regulators whom it hopes will help expedite resolution of the matter. No Timeline Given The South African …
Drivechain, a Bitcoin improvement proposal that presents a way of scaling Bitcoin using sidechains, level two blockchains that receive bridged tokens from a parent chain, is generating a loud buzz on social media from supporters and detractors. While Paul Sztorc, the author of the Drivechain proposal, states that its concept seeks to drive all innovation […]
The foreign ministers of the BRICS states have reached out to invite Indonesia to become a member of the group, their Indonesian counterpart unveiled. The government in Jakarta is still weighing the benefits of joining the organization and is yet to decide whether to apply formally. BRICS Nations Sought to Induct Indonesia Into Their Expanding […]
The Ministry of Economic Development of Russia does not expect the rapid development of a common currency for the BRICS bloc. Deputy Economic Development Minister Vladimir Ilyichev stated that “quick breakthroughs” on this issue are unlikely to happen during the ongoing BRICS summit, citing the process the European Union underwent to create the euro. Ministry […]
The International Monetary Fund (IMF) has not seen any specific proposal on a common BRICS currency. However, the IMF acknowledges the presence of “slow-moving trends” indicating shifts in the currency composition of reserves and trade. The Fund’s statement followed reports that the BRICS economic bloc is planning to launch a gold-backed currency. IMF on BRICS […]