Japan's Financial Regulator Set to Greenlight First Yen-Based Stablecoin
The Financial Services Agency of Japan is poised to approve the inaugural yen-pegged stablecoin in the near future.
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The Financial Services Agency of Japan is poised to approve the inaugural yen-pegged stablecoin in the near future.
The Japanese yen has gained strength against both the dollar and Bitcoin, as U.S. Treasury Secretary Scott Bessent suggests that the Bank of Japan will need to raise interest rates to combat inflation.
Bitcoin crosses the $88,000 mark amid a strengthening yen, while other cryptocurrencies like ETH, ADA, and XRP see declines.
Recent market dynamics suggest that the bullish positioning in the Japanese yen may be reaching its limit, potentially benefiting risk assets like Nasdaq and Bitcoin.
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