Cryptocurrency Daily Thefoxposts.com

The BRICS alliance is working towards the formation of a new payment system to end reliance on the US dollar. The bloc wants to dim the lights on the USD and challenge the currency’s dominance in global trade and transactions. BRICS member Russia is also advancing in creating digital currencies (CBDC) in the ruble with the help of blockchain technology. The move will help its economy stay afloat amid the sanctions pressed by the White House. Also Read: BRICS Makes Major Announcement On New Payment System Read here to know how many sectors in the US will be impacted if BRICS ditches the dollar for trade. BRICS is now looking to equip digital currencies to its benefit, as trade settlements would be smoother and safer without the interference of the US dollar. BRICS: 134 Countries Working Towards The Formation of Digital Currencies Source: businessinsider.in / Canva The Atlantic Council published a recent report showing that 134 countries around the world, including BRICS, are building di

Multiple SEC lawyers are resign ing after a federal judge sanctioned the agency for false statements & abuse of power in a crypto case. Lawyers Michael Welsh and Joseph Watkins represented the SEC in their case against Digital Licensing Inc., AKA DEBT Box. They stepped down this month after an SEC official told them that they would be terminated if they stayed, according to sources familiar with the matter. JUST IN: Multiple SEC lawyers resign after a federal judge sanctioned the agency for false statements & abuse of power in a crypto case. — Watcher.Guru (@WatcherGuru) April 22, 2024 Federal district court judge Robert Shelby ruled that the regulator’s lawsuit against DEBT Box was marred by false statements and misrepresentations. Furthermore, he and the court ruled that the SEC was abusive of their power throughout their investigation into DEBT Box. Judge Shelby decided to sanction the agency for abuse of power in March. The SEC’s head of enforcement has since apolo