The Japanese government approved a $135 billion stimulus package to address price relief and subsidize bills. It aims to reduce inflation by 0.7 percentage points and could lead to more bond issuance. The yen has weakened against the US dollar, prompting concerns in the market and potential interventions by the Bank of Japan.

Bitcoin’s value has dropped amidst Japan’s stimulus news. Traders are cautious due to Japan’s high debt levels and potential rate hikes. Finance Minister Katayama expressed concern over currency market volatility, hinting at possible interventions. The Bank of Japan is considering rate hikes in future meetings, impacting Bitcoin’s performance.

PubKey, a Bitcoin-themed bar, opened in Washington, DC, sparking market optimism. Treasury Secretary Scott Bessent’s surprise appearance was seen as bullish. PubKey’s success in NYC, including a visit from President Trump, led to its expansion. The bar doesn’t endorse any political party but aims to promote Bitcoin in DC.

Canada’s budget approved governance guidelines for stablecoins, requiring reserves, clear policies, and risk management. The Bank of Canada will oversee operations with a $10 million allocation. The bill allows registration for stablecoin issuers, aiming to regulate the market effectively following the US’s lead.

The UK’s NCA uncovered a billion-dollar crypto laundering ring involving Keremet Bank in Kyrgyzstan. Altair Holding, linked to money launderers, acquired a stake in the bank. The NCA exposed the network’s role in laundering funds for cybercriminals, drug dealers, and firearm traffickers. It has seized millions in cash and cryptocurrency, making 128 international arrests.

Read more at Cointelegraph: Bitcoin Drops as Yen Falls, Canada Approves Stablecoin Rule: Global Express