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De-dollarization is majorly affecting the US economy and is changing the way how the world trades. Cross-border transactions are being settled in local currencies while the US dollar is being sidelined for payment settlements. Former U.S. Congressman from Texas, Ron Paul reaffirmed that the US dollar is on its way out of the financial system as de-dollarization takes shape in 2025. The race to become the next ‘global currency’ is on and the euro and Chinese yuan are the frontrunners. Both believe that their currency is capable of replacing the US dollar and ushering the world into a new era. De-dollarization has now become a common word as ‘apples’ and there seems to be no turning back from hereon. Also Read: BRICS: 50+ Nations Now Use Yuan, Rupee, Ruble, Not US Dollar in Trade De-Dollarization: US Dollar Is on the Way Out, Says Former Texas Congressman Source: CNN Ron Paul explained that the last time a financial reset occurred, the US dollar replaced the pound ...

IMF Communications Director Julie Kozack reiterated today that “addressing risks arising from Bitcoin is a key element of these discussions” in reference to negotiations between El Salvador and the IMF regarding a loan program. El Salvador is still heavily indebted, and Bitcoin is not helping the country refinance its debts with the International Monetary Fund (IMF). According to the IMF, its member countries should not grant crypto assets official currency or legal tender status.  El Salvador did not follow those instructions. After El Salvador, IMF mighty worried about more nations adopting Bitcoin Read more: El Salvador Bitcoin agency reportedly made $235 this year, $7M off target As of June 30, the country owed a relatively manageable $188 million (143.6 milion SDRs valued at $1.31534 apiece) in outstanding debt to the IMF. Although the figure is relatively small for a sovereign nation, credibility with the IMF is critical to El Salvador for its refinancing of existing...