Here’s what happened in crypto today
Today in crypto, the Japanese financial services regulator has asked Apple and Google to remove unregistered crypto exchanges, including Bybit and KuCoin, from their app stores; three more US states, including Utah, took a step closer to creating a Bitcoin reserve after the state’s House passed a bill, which now heads to the Senate; and Czech President Petr Pavel signed a landmark crypto law.Japan asks Apple and Google to remove unregistered crypto exchange appsJapan’s Financial Services Agency (FSA) asked Apple and Google to suspend downloads of five unregistered cryptocurrency exchanges, reinforcing its stance on regulatory compliance in the country.The FSA has sought to suspend the downloads of five cryptocurrency exchanges (CEXs), including Dubai-based Bybit Fintech, Singapore-based MEXC Global, LBank Exchange, Seychelles–based KuCoin and Singapore-based Bitget.While the FSA’s request was made in the previous week, Apple removed the applications from its App Store on Feb. 6, preventing Japanese users from downloading them, Nikkei reported on Feb. 7.Japan has taken a more cautious approach to cryptocurrency than other Asian markets.While Hong Kong has already approved the first spot Bitcoin reserve after the state’s House passed a Bitcoin reserve bill to the Senate on Feb. 6.Utah Representative Jordan Teuscher proposed the bill — titled HB 230 Blockchain and Digital Innovation Amendments — on Jan. 21, which would give the state’s treasurer authority to allocate up to 5% of certain public funds to buy “qualifying digital assets,” such as BTC, high-cap crypto assets and stablecoins.It then passed the state’s House Economic Committee by an 8-1 vote on Jan. 28 to make it onto the House floor. The bill will now head to the Senate, where it will need majority approval before it is given to the governor to sign or veto.Neighboring Arizona is the only other state with a similar bill at a similar stage after Arizona’s Senate Finance Committee passed the Strategic Bitcoin Reserve Act (SB1025) on Jan. 27, which is now pending a House vote. It would allow up to 10% of a government entity’s or public fund’s capital to be invested in Bitcoin or other cryptocurrencies.Fourteen US states have introduced bills giving their local treasuries permission to buy crypto assets, according to Bitcoin Reserve Monitor.Czech president signs “landmark” crypto bill: CKMACzech President Petr Pavel has signed a “landmark” cryptocurrency legislation into law, providing Czechia with regulatory clarity on digital assets that are aligned with broader European Union laws. According to a translated blog post by the Czech Cryptocurrency Association, also known as CKMA, the new legislation simplifies crypto tax rules and implements the EU’s Markets in Crypto-Assets (MiCA) regulation “in a way that supports innovation and development of the entire industry.”After years of lobbying, CKMA played a role in preparing the legislation. “The proposals submitted were completely unthinkable a few years ago, now all legislators present have agreed to them,” said František Vinopal, the CKMA’s chairman. “The new legislation introduces the right for cryptocurrency companies to access bank accounts if they pass the licensing process,” CKMA told Cointelegraph in a written statement.