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A recent report claims that 10 ASEAN countries are considering ditching the US Dollar. This de-dollarization move comes amid concerns over western sanctions on Russia and the soaring value of the US dollar. Asian officials are defending their currencies, seeking to use local currencies instead of the US dollar for transactions. However, it remains unclear which specific ASEAN countries are involved and the practical steps they will take to implement this agreement.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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