Tanzania Dumps the Dollar: BRICS Member Goes Full De-Dollarization

Tanzania just fired the ultimate shot in the currency wars—the US dollar is no longer welcome. Another BRICS nation cuts ties with the petrodollar, and Wall Street didn’t see it coming (as usual).

Why this matters: When emerging economies ditch the dollar, they’re not just making a political statement—they’re building the on-ramps for crypto adoption. Every collapsed fiat regime becomes a case study for Bitcoin maximalists.

The cynical take: Treasury secretaries will pretend this is fine while frantically recalculating their inflation models—because nothing says ’stable reserve currency’ like getting kicked out of emerging markets.

BRICS: Tanzania & the US Dollar

The ban on the US dollar also includes foreigners who visit the country as tourists making Tanzanian Shillings mandatory. Only a few authorities are permitted to use foreign currencies and the regulation makes it clear that they need to specify the transactions. Those include government contributions to regional organizations, embassies, and transactions by international firms. What BRICS failed to do to the US dollar, Tanzania got its accomplished.

Developing countries are inspired by the BRICS agenda of using local currencies and forging ahead in banning the US dollar. The MOVE will prove costly to the American economy if many countries join in on the de-dollarization bandwagon. The popularity of using local currencies for trade is growing and signals a major warning to the American economy.