US Senator Rand Paul Warns of US Dollar Losing Reserve Currency Status — Says ‘It’s Not an Unfounded Prediction’

U.S. Senator Rand Paul has warned that the U.S. dollar could lose its status as a global reserve currency. “For a variety of reasons, both foreign policy as well as fiscal irresponsibility, yes, the dollar is in a precarious position,” said the lawmaker. Senator Rand Paul on U.S. Dollar Losing Reserve Currency Status U.S. Senator [...]

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Accelerating Dedollarization through Increased Bitcoin and Stablecoin Adoption

As Bitcoin and stablecoin adoption continues to rise, experts believe that this trend could accelerate the process of dedollarization around the world. The increasing use of these digital currencies could pose a challenge to the dominance of the US dollar in global trade and finance. With the growing popularity of Bitcoin and stablecoins like Tether [...]

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IMF Director: Iranians, Brazilians, Saudis Switching to Trade in Chinese Yuan as De-Dollarization Gains Momentum

The International Monetary Fund’s (IMF) executive director for Russia says a growing number of countries are switching to trade in Chinese yuan, not only with China but also with third countries. He stressed that it is wrong for the U.S. dollar to be widely used globally given that the U.S. government uses the currency “for [...]

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Russian Foreign Minister Sergey Lavrov States De-Dollarization ‘Can No Longer Be Stopped’

Russian Foreign Minister Sergey Lavrov has spoken on the current shift to national currencies and the de-dollarization international markets are currently experiencing. In a press conference after addressing the UN Security Council on April 25, Lavrov stated this shift could not be stopped, and that the future of traditional international institutions like the International Monetary

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Microstrategy Founder Michael Saylor to Argentines: ‘You Need Bitcoin’ — Critics Insist BTC Is Too Volatile

Micheal Saylor, the founder of Microstrategy, has told people living in inflation-stricken Argentina that they now “need bitcoin.” While many bitcoiners have welcomed Saylor’s suggestion, a few critics have said the top crypto asset’s volatility makes it an unsuitable alternative for the faltering local currency. The Dollarization Option As the Argentinian currency — the peso

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Yuan Usage Soars in Argentina: Over 500 Companies Request to Pay for Imports in Chinese Currency, Report

Over 500 companies in Argentina have reportedly requested to pay for imports using Chinese yuan as the U.S. dollar shortage worsens. “The central bank doesn’t have dollars so it needs the emergency aid China is offering,” a trade economist in Buenos Aires explained. Chinese Yuan Usage Hits Record High in Argentina The Argentine customs agency

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EAEU Official Urges BRICS and SCO for Joint Use of Digital Currencies, New Payment Card

Three integration unions with Russian participation, BRICS, SCO, and the EAEU, should adopt joint policies on the use of digital currencies, according to a top representative of one of them. He also believes the international organizations should develop a new payment system with its own bank cards. BRICS, SCO, and EAEU May Launch Common Payment

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Argentina to Expand De-Dollarization Efforts; Seeks Extension of Yuan Based Swap Line With China

The government of Argentina is reportedly seeking to expand its de-dollarization agreement with China due to the lack of dollars that the country is facing. According to reports, Economy Minister Sergio Massa would be in talks to expand the current swap line to double the available amount from $5 to $10 billion, lent in Chinese [...]

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Circle CEO warns of active and accelerating de-dollarization

The United States must capitalize on the “high demand” for digitally native U.S. dollars, particularly from those in emerging economies with weak local banking systems, the Circle CEO says.

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Latam Insights — IMF States Latam’s CBDC Interest Rises, Lula Emphasizes Bretton Woods Institutions ‘No Longer Function’

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, the International Monetary Fund (IMF) reports interest in central bank digital currencies (CBDC) in Latam and the Caribbean is picking up, Lula criticizes the current international economic system, and Venezuela integrates the Russian

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ECB President Lagarde on De-Dollarization: Reserve Currency Status Should No Longer Be Taken for Granted

European Central Bank (ECB) President Christine Lagarde has warned that the U.S. dollar’s reserve currency status “should no longer be taken for granted.” Acknowledging de-dollarization efforts by various countries, she stressed: “New trade patterns may have ramifications for payments and international currency reserves.” ECB’s Christine Lagarde on De-Dollarization and Alternative Currencies The president of the

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Argentina Debates Dollarization in the Midst of Rampant Devaluation and Inflation

Javier Milei, a presidential candidate for the next election in Argentina, has presented a dollarization plan to fix the economy of the country if elected. The proposal, which has supporters and detractors, would aim to solve the historic devaluation of the Argentine peso and the 100%+ interannual inflation that Argentina registered in March. Dollarization Surges [...]

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US Treasury Secretary Defends Dollar Dominance as Emerging Markets Push to De-Dollarize

U.S. Treasury Secretary Janet Yellen has defended the dominance of the U.S. dollar amid rising efforts by emerging countries to de-dollarize. Brazilian President Luiz Inácio Lula da Silva, in particular, is set to raise the issue of de-dollarization at the next BRICS meeting. “There is a very good reason why the dollar is used widely [...]

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9 Asian Countries Discuss De-Dollarization Measures in Meeting Hosted by Iran

Top officials from nine Asian countries, members of the Asian Clearing Union (ACU), have gathered in Tehran for their annual meeting, where de-dollarization takes center stage. In addition to the officials from Bangladesh, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka, Russia’s central bank governor and officials from Belarus and Afghanistan also attended

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IMF Foresees No ‘Rapid Shift’ in US Dollar Reserves Despite Rising De-Dollarization Trend

The International Monetary Fund (IMF) does not expect a “rapid shift” in the U.S. dollar reserves despite a rising de-dollarization trend and a looming U.S. debt default. “Don’t kiss your dollars goodbye just yet,” said IMF Managing Director Kristalina Georgieva. The IMF chief does not expect the U.S. to default on its debt obligations. US [...]

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Indonesia Is Following BRICS De-Dollarization Lead, Says Central Bank Governor

Indonesia is following the BRICS’ lead in de-dollarization and shifting away from the U.S. dollar in trade settlements and financial transactions, according to the country’s central bank governor. The BRICS nations are working on creating a common currency to reduce their USD reliance. Indonesia’s De-Dollarization Efforts Bank of Indonesia Governor Perry Warjiyo said Friday that [...]

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Brazil to Push De-Dollarization Agenda at BRICS Meeting

Brazilian President Luiz Inácio Lula da Silva has revealed his intention to raise the issue of de-dollarization at the next BRICS meeting. “Why Brazil and Argentina would trade in dollars. Why don’t we do it in our own currencies? Why can’t Brazil and China trade in their currencies? The question of why I need to

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BRICS Currency Not on Agenda for Leaders’ Summit — Nations to Focus on De-Dollarization

The heavily anticipated BRICS currency is not on the agenda to be discussed at the economic bloc’s upcoming leaders’ summit, according to South Africa’s diplomat in charge of BRICS relations. He clarified that the BRICS members will focus on de-dollarization and promoting the use of national currencies in international trade instead of the U.S. dollar. [...]

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Federal Reserve Chair Discusses De-Dollarization Threat, Risk of US Dollar Losing Reserve Currency Status

Federal Reserve Chairman Jerome Powell has discussed the threat of de-dollarization and the risk of the U.S. dollar losing its world’s reserve currency status. He believes that the USD hegemony is a consequence of America’s economic dominance. Fed Chair Powell on Threat of De-Dollarization, USD Losing Reserve Currency Status Federal Reserve Chairman Jerome Powell addressed [...]

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Balaji Srinivasan Highlights De-Dollarization Past of Biden’s Top Economist

Former Chief Tech Officer at Coinbase, Balaji Srinivasan, took to Twitter to remind his followers about Jared Bernstein’s earlier stance on de-dollarization. The angel investor sees logic in views that the new White House top economist has now abandoned, on the U.S. dollar’s status as a global reserve currency . Not a Bitcoin Maximalist —

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