DeFi News Official Today TheBitTimes.com

The ASEAN bloc has always portrayed its stance as nations that have long been fighting for a multipolar currency order. These nations have long entertained the idea of ending their reliance on the US dollar due to its constant weaponization and price volatility. That being said, with Donald Trump initiating an aggressive tariff regimen for all global nations to comply with, the de-dollarization narrative is once again gaining steam. Will it end up alienating the US dollar? Let’s find out. Also Read: How High Can Solana (SOL) Surge If An ETF Is Approved? ASEAN X De-Dollarization: Is The Concept Gaining Momentum Again? Source: Watcher Guru Donald Trump has assumed the reins of the White House this January. His strong personality and commitment are now posing new challenges for the global trade order. In efforts to make the US economy robust again, Trump has dropped his new tariff regime. This includes a list of tariff impositions that the nations will have to agree to in order to co...

In our latest Cointelegraph Report, we analyze the causes leading to the decline of the U.S. dollar as the world reserve currency and its potential implications. De- dollar ization, the decline of the United States dollar as the world’s dominant reserved currency, is underway, and it’s gaining momentum.  For over 100 years, the U.S. dollar has been the world reserve currency, which means it has been the dominant foreign currency held by central banks to carry out international transactions and settle international debt.  However, in the last 20 years, the dollar ’s dominance in countries’ reserves has decreased from 70% to under 60%, according to the International Monetary Fund. This trend has been accelerating since last year, when the U.S. and its allies froze Russia’s dollar reserve as a response of the country’s invasion of Ukraine. Since then, several countries have been looking for alternatives to the U.S. dollar . Some are discussing the creation of new currencies for intern...