Faint hopes of dogecoin (DOGE) being included in the U.S. Department of Government Efficiency (D.O.G.E.) were dented on Sunday as the department’s figurehead Elon Musk squashed any plans of adding the memecoin.

«There are no plans for the government to use dogecoin or anything,” Musk said during a speech at the America PAC town hall in Green Bay, Wisconsin.

“I was going to call it Government Efficiency Commission, but that’s a super boring name. Then the internet said it needs to be the Department of Government Efficiency. I was like Internet is right,” he added.

DOGE prices are down 3.5% in the past 24 hours, in line with a broader market drop. While there have been no firm plans to include the token in the controversial non-governmental agency, its introduction in August had sparked several namesake tokens and birthed the start of a multi-month rally in dogecoin.

The official site even sported a dogecoin logo for a few hours on the day after Trump’s inauguration, giving more credence to rumors of the joke token playing a role in the new agency.

D.O.G.E seeks to make government spending of taxpayer money more efficient while streamlining departments that handle spending. It has saved an estimated $130 billion after a formal start in January, data shows, with an average $840 saving for taxpayers.

Japan’s Financial Services Agency (FSA) plans to reclassify cryptocurrencies as financial products under new rules, aimed at curbing insider trading in the digital asset market, per a Nikkei report on Sunday.

The move comes as part of a broader effort to strengthen oversight in Japan’s crypto ecosystem, which has witnessed growing adoption alongside a rise in fraudulent activities.

The FSA intends to submit amendments to the Financial Instruments and Exchange Act (FIEA) to Japan’s parliament as early as 2026, following a detailed review conducted by experts behind closed doors.

Cryptocurrencies are currently categorized as a «means of settlement» under the Payment Services Act, a designation that has governed their use primarily as a payment tool rather than as investment vehicles.

However, this existing classification has left gaps in regulatory oversight, particularly concerning activities like insider trading.

As such, specific details about the insider trading rules — such as what constitutes insider information in the crypto context or the penalties for violations — have not yet been disclosed, leaving room for further clarification as the proposal takes shape.

Bitcoin (BTC) traders just over $81,500 in Asian morning hours Monday as a weekend slide saw major tokens lose momentum on last week’s brief rally.

XRP and Cardano’s ADA led losses among majors with a 5% drop in the past 24 hours, with Solana’s SOL, dogecoin (DOGE) and ether (ETH) down between 2-3%.

The CoinDesk 20, a measure of the performance of the largest digital assets, is down 2.6%

Weekly inflows to the BTC ETF finished last week at $196 million, according to SoSoValue, while ETH ETFs had a net outflow of just over $8 million.

Stock markets opened lower Monday, their fourth consecutive day of decline, as investors around the globe brace for President Donald Trump’s upcoming announcement of new tariffs, set to be revealed on April 2, amid growing fears of a global trade war’s economic fallout.

Hong Kong’s Hang Seng index was down 1.7% in the morning session, while the Nikkei 225 was down 3.8%, and Korea’s KOPSI index in the red by 3% as export-heavy economies worry about market access to the U.S.

Futures for U.S. and European stock indexes also fell. In contrast, safe-haven assets like gold reached an all-time high, and U.S. Treasury yields dropped due to increased demand.

Globally, portfolio managers are adopting cautious strategies, either reducing risk or avoiding large investments, unsettled by the impending «reciprocal tariffs» and their potential economic toll.

Elsewhere in crypto, data from Tokenomist.ai shows that $751.2 million in unlocks are scheduled this week, including SUI and DYDX, putting the weekly unlock cycle in the middle of the pack. Unlocks are scheduled to pick up in May, when roughly $4.4 billion (at current market prices) in tokens will be unlocked.