On 31 October 2024, the Bank for International Settlements announced it was backing out of mBridge, a scheme for digital settlements using digital currencies of central banks.  Led by Russia as the initiator, the BRICS states most interested in this new-generation project of settlement technologies are set to carry on by themselves.

VERBA LEGAL Partner Aleksandr Kuznetsov, Counsel Marat Samarskiy, Senior Asossiate Anna Sidorenko, and Asossiate Ivan Dubrovsky discuss whether the interested parties will be able to pursue the project, and what political and legal barriers they may face.