Bitcoin Integration on the Agenda at Upcoming Summit

• The BRICS Coalition has reportedly gotten a large number of requests from new countries looking to join the coalition. 
• Brazil’s President reveals that he is willing and open to accepting new members. 

According to local news outlets, Brazil’s current President Luiz Inácio Lula da Silva has shown support for the admission of Venezuela to the BRICS.

The Brazilian President made this known in a recent press statement. Although this is the first time in nearly 10 years, since the Brazilian President would be taking part in a BRICS meeting, he has already made his stance on new BRICS members clear.

The President disclosed that the BRICS has revealed many proposals from a wide number of countries looking to join the coalition. However, he maintains that the decision-making process will be up for discussion.

The BRICS coalition is centered around a handful of countries including China, South Africa, Russia, India, and Brazil divesting from the U.S. Dollars by creating an alternative.

“I am in favour of it” said the Brazilian President, in response to the incoming requests from other nations

The President went on to explain that the decision of whether or not new members can join the BRICS coalition is not up to Brazil to decide. Instead, the decisions will be made collectively. Additionally, the President explained that all official requests will be transferred to the BRICS which will end up making a final decision.

Notably, President Luiz Inácio Lula da Silva is making it clear that he is in full support of new members joining the BRICS coalition.da Silva said.

It’s the first BRICS meeting in which I will participate after eight years. There are several proposals from other countries that want to join the BRICS. We are going to discuss this. Because it does not depend on the will of Brazil, it depends on the will of us all. We are going to discuss this. If there is an official request, this request will be officially taken to the BRICS and there will we decide. And if you ask me, I am in favor of it.

According to observations from the African Ambassador Anil Sooklal, a handful of countries from the African Asian and Latin American continents have shown interest in joining the BRICS group. Sooklal explained that the countries have made different attempts to reach out to leaders of the BRICS coalition either formally or through an application process.

The new development is a positive signal for the BRICS coalition and its members, as Sooklal further asserted. Their collective interest in divesting from the United States official currency (USD) further reiterates their commitment to strengthening their nations’ economies.

Sooklal believes that this is good news for the bloc, particularly because it highlights the confidence that the global south has in the BRICS coalition and its leadership.

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