The Chinese yuan has surpassed the U.S. dollar in trading volume on the Moscow Exchange due to Russia moving away from transacting in the currencies of "unfriendly" countries amidst sanctions.
"On Monday, April 10, 2023, the President signed into law: H.J.Res. 7, which terminates the national emergency related to the COVID-19 pandemic," the White House announcement reads.
The proposed digital currency in Texas would be unique as it would be based on a physical asset, gold, and each unit of the digital currency issued would represent a particular fraction of a troy ounce of gold held in trust.
China and Brazil have signed a deal to trade in their own currencies, bypassing the U.S. dollar as an intermediary, to reduce costs and promote bilateral trade.
