U.S. and Japanese finance ministers coordinate on forex policy, Bessent says volatility "undesirable"

Techub News, according to CryptoBriefing, U.S. Treasury Secretary Bessent and Japanese Finance Minister Yoshihiro Katayama held talks on foreign exchange policy on May 12. Bessent described exchange rate fluctuations as "undesirable," and both sides reaffirmed a September 2025 commitment to curb excessive currency volatility. Bessent previously stated that stablecoins could strengthen the dollar's dominance and drive innovation in payments. Japan is advancing its digital yen initiative, with major exchange BitFlyer reporting a daily trading volume of approximately $2 billion. Analysts have noted that coordinated U.S.-Japan foreign exchange policies may reduce exchange rate volatility, making dollar-pegged stablecoins more reliable for cross-border transactions in the Asia-Pacific region.