Get the latest scoop on crypto developments today. This summary covers key events affecting Bitcoin price, stablecoins, Monero, blockchain regulations, and market trends.
Japan’s Financial Services Agency (FSA) is preparing to greenlight the issuance of yen-backed stablecoins, with the fintech company JPYC leading the way. These tokens, pegged 1:1 to the Japanese yen, will be supported by liquid assets like government bonds and bank deposits.
The shift marks Japan’s first domestic fiat-pegged digital currency approval, as the global stablecoin market, dominated by US dollar-pegged coins such as USDT and USDC, grows to over $286 billion.
In other news, Galaxy Digital CEO Mike Novogratz warned that a $1 million Bitcoin price in 2026 might not be a positive sign, suggesting underlying economic distress if such a surge occurs.
He emphasized preferring a stable economy with lower Bitcoin price rather than a sky-high price driven by currency devaluation, highlighting Bitcoin’s role as a digital gold and alternative store of value.
Meanwhile, Kraken crypto exchange has temporarily stopped Monero (XMR) deposits after a single mining pool executed a 51% attack, gaining majority network hashing power.
This precautionary measure addresses potential risks to Monero’s network security and has sparked discussions within the crypto community about network incentives and resilience.
