BRICS Rejection of Shared Token Leaves Cryptocurrency Industry in Limbo
The BRICS Delhi Declaration 2026 was signed by leaders on September 12th, with India in the chair. The document is a joint statement that sets the bloc's position for the next twelve months.
The declaration builds upon previous agreements, including the Cross-Border Payments Initiative launched in Kazan in 2024 and the Rio Declaration from 2025, which backed interoperability between national payment systems.
India took over as chair of BRICS in late 2025, and since then, more than 400 meetings across 30 Indian cities have been held to draft the declaration. The document notes that there is no one-size-fits-all approach to payments, indicating that a shared token or CBDC link was rejected.
The declaration also highlights the importance of combating illegal virtual asset flows and scam compounds exploiting payment rails, effectively treating them as serious financial crimes.