Bitcoin Drops as Yen Falls, Canada Approves Stablecoin Rules: Global Express

Why It Matters

The Japanese stimulus and potential BOJ rate hike could destabilize crypto markets, while Canada’s stablecoin rules provide regulatory clarity that may boost adoption; the UK crackdown highlights ongoing AML risks in crypto, underscoring the need for stronger oversight globally.

Summary

Japan approved a ¥21.3 trillion ($135 billion) stimulus package aimed at easing inflation, prompting concerns that increased bond issuance will further weaken the yen and could force the Bank of Japan toward a rate hike, pressuring Bitcoin lower. Meanwhile, the crypto‑themed PubKey bar opened in Washington, DC, drawing pro‑crypto Treasury Secretary Scott Bessent and signaling political goodwill for the sector. In Canada, the 2025 budget introduced a stablecoin regulatory framework requiring issuers to hold reserves, set redemption policies and register with the Bank of Canada, allocating $10 million for oversight. The UK’s National Crime Agency uncovered a billion‑dollar crypto‑laundering scheme involving Kyrgyzstan’s Keremet Bank, linked to sanctioned individuals and Russian sanctions evasion, resulting in £25 million seized and 128 arrests.