#forex_crypto_topic
introduction
We're living in a world full of alliances, some are military and most of are economically alliances, and you probably noticed an alliance He has become famous even knowing it is 14 years, 2 months, 23 days, since June 16, 2009, not that old, but old enough and young enough, not as G7.
BRICS described as one of the strongest economical alliances in the world, founded by Brazil, Russia, India, China, South Africa, together combined, represent 30% of world GPD, can almost touch the G7 ut with the new members those joined things gets interesting, Iran, Ethiopia, Argentina, Saudi Arabia, UAE and Egypt, Brics can get additional +11 % world GPD (approximately).
Cryptocurrency ?
China: Things gets interesting when you figure that China is the third country in world's ranking to mine Bitcoin, from a study by Cambridge University’s Cambridge Centre for Alternative Finance (CCAF) in 17 May 2022, that China from 0.0% mining in June 2021 to 22.3 in September 2021. Study source. And an interesting rumor says that China holds secretly around 194,000 bitcoin, 833,000 ethereum seized in 2019, the numbers are shocking according to Ki Young Ju, the chief executive of blockchain data analytics company Cyptoquant, he tweeted "The government of China is a crypto whale" tweet source. Other source.
Russia: According to The Moscow Times, an independent news from Russia in an article posted in April 7, 2023, they stated that "Russia has become the world’s second-largest cryptocurrency mining country this year, the Kommersant business daily reported Friday, citing Bitriver, Russia’s largest bitcoin mining provider." post source. For how much do Russian government holds bitcoin, there's no official or publicly available data or statistics from Russian side, and this is interesting for how they are hiding this kind of information knowing thay Russia is supporting mining not only inside the motherland but outside it according to an article from Coindesk that stated from TASS Russia News agency "Russia Plans to Mine Crypto for Cross-Border Deals, Says Central Bank" Souce.
Iran: Iran is an interesting country that has been sanctioned from more than 20 years but still achieved self-sufficiency, yupe they did. This probably is related or have a small percent of Cryptocurrency field, according to an article published by Dr. Tom Robinson, May 21, 2021 at they elliptic blog, he mentioned that Iran is collaborating in world bitcoin mining with 4.6 %, Iran using cryptocurrencies to evade sanctions imposed against it, this gives an idea how power and scary can cryptocurrencies be. source. It may seem hidden because there are no studies or calculations on the amount of Bitcoin owned by the Iranian government, but after looking at Eraz's step towards mining and its importance, Iran has decided that all those who mine Bitcoin are forced to put their profits in the Iranian Central Bank, and this is evidence that Iran is trying to build a reserve of Bitcoin.
India: There is no official data about crypto mining by the Indian government, but as far as we know, there are more than 115 millions indian have invested in crypto.source. while the government has no regulation or taxes on both miners because thereis no central authority in India that regulates the use of cryptocurrencies as a form of payment. source
Conclusion
Brazil, S.A, Egypt, Argentina, Ethiopia and U.A.E: Cryptocurrency investment and mining have yet to get that popularity in Brazil, South Africa, Egypt, Argentina, Ethiopia, and UAE. many governments within these countries have displayed uncertainty, with some banning crypto activities, with regulations and public sentiment changing across countries and other countries embrace crypto, these countries continue to navigate the path to acceptance cautiously, in addition to thier economical power as thier BRICS allies, they will probably have to adjust thier laws to go with major brics countries rhythm such as China, Russia and Iran especially when the brics new currency release that is being considered as inevitable which will probably transfer to an digital currency in the future.
I hope you like this article, suggest anything about the writing style, information delivering or any point I've missed. thumbs up.
