September 30, 2025Kutafin Law ReviewOpen Access

BRICS Pay as the BRICS Payment System in the Legal Framework for Transactions in BRICS Countries

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The establishment of BRICS Pay aims to enhance cross-border transactions, ensuring stability in international economic relations.
Current geopolitical changes prompt discussions on adopting cryptocurrency as a means of payment within BRICS frameworks.
Legal frameworks in participating nations are pivotal for successful implementation of the BRICS payment system and cryptocurrency usage.
A comprehensive international agreement is essential to harmonize the legal requirements across BRICS Member States.

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Analysis of legal frameworks for payment systems in BRICS countries reveals challenges and opportunities in cryptocurrency adoption.

Б. А. Шахназаров (2025) studied this question.

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