BRICS in Delhi drops single CBDC platform but hardens rhetoric on illicit crypto
- —The idea of linking BRICS countries' CBDCs, promoted by India, did not make it into the final declaration text
- —Paragraph 42 equates illicit virtual asset flows with terrorism and money laundering
- —Paragraph 95 tasks a fintech group with studying quantum computing in the financial sector
- —Paragraph 90 notes the work of the Payment Task Force on interoperability and national currency settlements
Why it matters: The signal for the crypto industry is twofold: there will be no single BRICS CBDC platform, but compliance pressure on illicit crypto flows across the bloc's countries will increase.
Source: BitcoinWorld