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India's Central Bank Proposes Digital Currency Link Among BRICS Nations
Source: CryptoNewsNet Original Title: India’s central bank proposes a plan to create digital-currency link among BRICS nations Original Link: https://cryptonews.net/news/finance/32299325/ The Reserve Bank of India (RBI) is pushing a plan to link central bank digital currencies (CBDCs) across BRICS nations to streamline cross-border trade and tourism while chipping away at the U.S. dollar’s dominance.
The RBI urged the government to add the proposal to create an interconnected system of CBDCs to the agenda of the 2026 BRICS summit to be hosted by India later this year.
That would be the first such formal attempt to create a CBDC link among BRICS members: Brazil, Russia, India, China, South Africa and newer compatriots like the UAE, Iran and Indonesia.
The move could spark tensions with Washington as it seeks to defend the U.S. dollar’s role as the global reserve currency. President Donald Trump has repeatedly warned the BRICS nations away from replacing the dollar, threatening to penalize such attempts with 100% tariffs.