Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Brazil’s President Luiz Inacio Lula Da Silva pushes to issue a BRICS common currency, Binance drops card services, and Argentina gets invited to be part of BRICS.
Brazil’s Lula Pushes for BRICS Common Currency
Luiz Inacio Lula Da Silva, president of Brazil, referred to the advantages of issuing a common currency in the BRICS bloc, integrated by Brazil, Russia, India, China, and South Africa. As part of his participation at the recent BRICS leaders summit, Lula stated:
The creation of a currency for trade and investment transactions between BRICS members increases our payment options and reduces our vulnerabilities.
Opposing Lula’s vision, Russian Foreign Minister Sergey Lavrov explained that “no one” was thinking about a single currency and that the group was focused on finding a way of making their economic investments and transactions inde
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