Japan's Hayashi Stresses Stable Currency, Mimura Highlights Yen's Rise, Financial Watchdog Eyes Crypto Regulations

Japan's Chief Cabinet Secretary Hayashi emphasized the importance of stable currency movements reflecting economic fundamentals. Koichi Hamada expressed concerns about the risks of an undervalued yen in the current economy and hopes that Prime Minister Shigeru Ishiba recognizes these risks. Japan's financial watchdog is considering legal measures to prevent foreign cryptocurrency exchanges from transferring domestic assets overseas in case of a collapse, according to Nikkei. Mimura noted sudden one-sided currency movements and highlighted the yen's rise, indicating potential actions against excessive market movements. Japan's top FX diplomat has also escalated warnings about the sliding yen.