Sergey Glazyev, the Minister for Integration and Macroeconomics of the Eurasian Economic Union, put some observations on the U.S. President’s Jan. 23 executive order on cryptocurrencies [see separate item], into his Telegram channel “Glazyev for Thinking People” on Jan. 25.
One element of context clarifies the excerpt of his comments below: The Russian government’s proposal to the BRICS Finance Ministers at the 2024 BRICS Summit in Kazan, featured a proposed new trade payments system using a blockchain currency as a unit of account, created and managed by central banks. The proposal of the Jan. 23 executive order by the White House, however, involves using multiple blockchain currencies, each as a store of value, created and managed by unregulated private companies.
