Here are the latest updates from the crypto world`
Hong Kong's Securities and Futures Commission (SFC) granted the first operational licenses of 2025 to two cryptocurrency trading platforms. Since beginning its licensing initiative in mid-2024, the regulator has issued a total of seven crypto licenses.
On January 27, the SFC granted operational licenses to two cryptocurrency exchanges based in Hong Kong, PantherTrade and YAX. Public records maintained by the Hong Kong government indicate that both entities were registered under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO).
A bill has been passed by the Utah House committee that would allow the state to invest a portion of public funds into crypto, with the measure now heading to the House for a vote.
On Jan 28, the Utah House Economic Development Committee passed HB 230, the Blockchain and Digital Innovation Amendments, by an 8-1 vote.
Jordan Teuscher, Utah Representative proposed the bill on Jan. 21. It would give the state’s treasurer authority to allocate up to 5% of certain public funds to buy “qualifying digital assets,” such as those with a market capitalization over $500 billion or approved stablecoins.
The updated second substitute of the initial bill, containing provisions for crypto mining zoning restrictions, was revised on January 28.
The bill will now proceed to the full House, where it must receive majority approval there and in the Senate before being presented to the governor for signing or vetoing.
Arizona legislators have moved forward with a bill to establish a Bitcoin strategic reserve, aiming to use the leading cryptocurrency as a savings tool for the state.
The Strategic Bitcoin Reserve Act (SB1025), co-sponsored by Senator Wendy Rogers and Representative Jeff Weninger, was passed by the Arizona State Senate Finance Committee with a five to two vote on Jan. 27.
The bill is set to proceed to the Senate Rules Committee for its final debate and potential amendments. If approved by the Senate, it will then be forwarded to the House of Representatives.
The proposed bill suggests establishing a strategic Bitcoin reserve managed by the US Treasury to store government Bitcoin holdings. This reserve would also permit other public funds to securely store their digital assets in a separate account within the strategic Bitcoin reserve.
The proposed bill permits up to 10% of a government entity's or public fund's capital to be invested in Bitcoin BTC$102,461 and other digital assets. It also allows pension funds to allocate resources to Bitcoin, which could boost public interest in cryptocurrencies.
According to Anndy Lian, author and intergovernmental blockchain expert, this decision to include Bitcoin in its financial strategy could lead to a domino effect among other states.