# Bitcoin Tumbles $84K as Yen Carry Trades Unwind

BTC hit $84,191 Friday as Japan's $135B stimulus package backfired on markets. The move triggered yen weakness (10-month low vs USD) but spooked traders—rising yields + BOJ rate hike signals are torching the carry trade strategy that historically fueled Bitcoin inflows. Borrow yen cheap → convert to USD → buy risk assets. That playbook's dead now.

Meanwhile, Japan's 10-year bond yield spiked to 1.84% (highest since 2008), signaling serious tightening ahead. Capital's rotating out of growth assets.

# Canada Rolls Out First Stablecoin Rulebook

Canada just approved its 2025 budget with the country's **first stablecoin governance framework**. What's it got?

- Issuers must hold sufficient reserves
- Clear redemption policies required
- Bank of Canada as overseer ($10M funding over 2 years)
- **No outright ban on unlicensed issuers**—just registration system

Crispy move. Unlike the US GENIUS Act's sledgehammer approach, Canada's playing the long game. Analysts say this opens the door for institutional stablecoin adoption.

# UK Busts $33M Crypto Laundering Ring Tied to Russia

The National Crime Agency just dismantled a major cross-border money-laundering network using crypto. The receipts:

- **£25M ($33M)** in cash + crypto seized
- **128 arrests** globally
- Network operated across **28 UK cities**
- Linked to drug trafficking, weapons, **sanctions evasion**
- Small Kyrgyzstan bank (Keremet Bank) was the hub
- Facilitated payments for **Promsvyazbank** (Russian state bank funding military ops)

This isn't FUD—it's Operation Destabilise's reality check. Crypto's still the path of least resistance for illicit flows.