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BRICS member Russia is targeting U.S. debt by saying that America could soon run out of paper to print dollars. In a stinging attack, Dmitry Peskov, Press Secretary for President Vladimir Putin hit out at American leaders for their inefficiency in bringing the debt crisis under control. Also Read: BRICS : GDP in Purchasing Power Parity To Reach 45% Of World’s Economy The U.S. debt has now reached a staggering $33.6 trillion and has grown by $1.2 billion every hour since last month. Additionally, the U.S. national debt climbed above $100,000 per American this month in November 2023. Taking a cue from the development, Peskov highlighted the U.S. lawmaker’s inability to bring the ever-growing debt under control. Peskov poked fun at the U.S. Treasury, Capitol Hill lawmakers, and the President for their incapability in controlling the debt. BRICS: The U.S. Dollar Printing Crisis Source: Wallpaperflare.com BRICS member Russia also stated that with the speed at which the...

The world’s largest crypto exchange is reportedly reevaluating its business in Russia. One of the options on the table is a full withdrawal from the Russian market. Potential for a full exit According to the Wall Street Journal, a spokesperson from Binance shared that all options are on the table, which includes the possibility of the platform to make a full exit from the Russian market. Although Binance has acknowledged their previous failures in compliance, they have also claimed that they changed their ways and are serious about follow ing the rules. Binance has since moved to limit its Russia trading service, telling platform users that they can’t exchange digital tokens for currency other than rubles.  You might also like: Binance suspends P2P transactions with sanctioned Russian banks At present, Binance isn’t the only exchange operating in the country; other cryptocurrency trading platforms include OKX, ByBit, Gate.io, and KuCoin, among others. The sanction viol...

According to Olga Skorobogatova, First Deputy Governor of the Bank of Russia, initiating pilot operations using genuine digital rubles represents a pivotal phase within the project. The Bank of Russia (BoR) has revealed that it will begin testing operations for Russia’s central bank digital currency (CBDC) project with digital rubles. The test will begin on August 15.  A statement released by the Bank of Russia indicates that the pilot tests will involve the participation of 13 banks and a restricted group of their clients. According to Olga Skorobogatova, First Deputy Governor of the Bank of Russia, initiating pilot operations using genuine digital rubles represents a pivotal phase within the project. This step facilitates the examination of the digital ruble platform's functionality within an industrial context, the refinement of essential procedures in collaboration with clients, potential process adjustments and the assurance of a user-friendly and comprehensible client ex...