BITCOIN

A top Indian official has downplayed the creation of a shared BRICS currency. Emphasizing that “common currency discussions have several prerequisites before you can even talk about a common currency framework,” the official stressed that the BRICS nations have focused on boosting settlements in national currencies. Indian Foreign Secretary on BRICS Currency India’s Foreign Secretary Vinay Mohan Kwatra explained in a media briefing on Monday that the BRICS economic bloc is not focusing on the proposed common currency for member states, Indian news outlet Mint reported. The BRICS nations are Brazil, Russia, India, China, and South Africa. “The substantive part of trade and economic exchanges and discussions that have been a part of BRICS discussions have so far, in a major way, focused on how to increase trade in respective national currencies which … is considerably different from a common currency concept,” the official detailed, elaborating: You would know that common currency

South Africa, the host of the BRICS summit this year, has confirmed that more than 40 heads of state will participate in the summit that will take place on Aug. 22-24. South Africa has also claimed that 23 countries have formally applied for BRICS membership. 40+ Heads of State to Participate in BRICS Summit Nelson Kgwete, the South African foreign ministry’s media liaison officer, told Russian news outlet Tass that more than 40 heads of state have confirmed that they will participate in the BRICS summit that will take place on Aug. 22-24 in Johannesburg. South Africa is the host of the BRICS summit this year. He was quoted as saying: Yes, confirmed, the summit will be attended by over 40 heads of state. All leaders of the BRICS nations (Brazil, Russia, India, China, and South Africa) are expected to attend the summit. However, Russian President Vladimir Putin will not attend in person . South Africa’s Minister of International Relations and Cooperation Naledi Pandor recently s

In a statement released August 17, 2023, Farmington State Bank, with an investment from Sam Bankman-Fried’s Alameda Research, consented to a cease and desist order from the U.S. Federal Reserve. Alameda invested $11.5 million into the bank’s coffers in January 2022. Government seizure documents from January 2023 indicate Bankman-Fried reportedly had $50 million stashed in the bank. Fed Puts Brakes on Alameda-Funded Farmington: Another Bank Bites the Dust Farmington State Bank (Moonstone Bank) is complying with the U.S. central bank’s cease and desist order signed July 18, 2023. The Federal Reserve Board and Washington State Department of Financial Institutions (WDFI) issued the order against Farmington State Bank of Farmington, Washington, and its holding company, FBH Corporation of Baltimore, Maryland. The regulators determined Farmington violated commitments to regulators by engaging in digital asset activities, such as stablecoin issuance, without necessary approvals. Farmingto