Hey there, PoI readers! 💫

Mochi here, serving up today's hottest crypto headlines that'll make your brain tingle! From Japan's app store cleanup to Missouri's Bitcoin piggy bank dreams, we've got some juicy stories that'll make your crypto-loving heart skip a beat. Get ready for a wild journey through stablecoins in Brazil, institutional adoption, state-level crypto initiatives, and regulatory shake-ups in Japan! Let's dive into these digital delights.

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INTEL BRIEF

🟧 Japan's FSA requested Apple and Google remove five unregistered crypto exchange apps, emphasizing regulatory compliance over crypto restriction.

🟧 Missouri introduces bill proposing a Bitcoin Strategic Reserve Fund and mandatory crypto acceptance for state payments, joining 15 other states exploring similar legislation.

🟧 Binance CEO Richard Teng emphasizes the crucial role of institutional investors and regulations in cryptocurrency adoption, backed by impressive Bitcoin ETF inflows.

🟧 Brazil's central bank chief reveals stablecoins dominate 90% of crypto transactions, while clarifying Drex's role as an infrastructure project rather than a CBDC.

Japan Orders Apple And Google To Remove Unregistered Crypto Apps

Japan's Financial Services Agency (FSA) is playing app store bouncer, and they're not checking IDs – they're checking registration papers! The regulatory watchdog has asked tech giants Apple and Google to give the boot to five major cryptocurrency exchanges from their app stores, including some big names like Bybit, MEXC Global, LBank, KuCoin, and Bitget.

Apple has already shown these apps the digital door as of February 6th, making it impossible for Japanese users to download them. But before you start thinking Japan's going all anti-crypto on us, let's get one thing straight – this isn't a crypto crackdown, it's more like a regulatory reality check!

As intergovernmental blockchain expert Anndy Lian puts it (and I love this quote), it's basically Japan saying, "If you want to play in our market, you've got to play by our rules." 

This move comes with some interesting timing too. Japan's been cooking up a new tax reform for 2025 that'll treat crypto assets more like traditional financial assets. And let's not forget the ghost of Mt. Gox past – that $9.4 billion oopsie that affected over 127,000 investors back in 2014. (Good news though: Mt. Gox has finally distributed 41.5% of its Bitcoin to creditors as of July 2024!)

While Hong Kong's out there approving Bitcoin and Ether ETFs like they're handing out fortune cookies, Japan's taking a more measured approach. But hey, sometimes the turtle wins the race, right?

FSA requested removal of 5 unregistered crypto exchange apps from Apple and Google app stores

Apple has already complied and removed the apps on Feb 6th

This move aims to enforce compliance rather than restrict crypto trading

Missouri Plans To Create Bitcoin Reserve Fund For State Investments

Representative Ben Keathley is making waves with House Bill 1217, and it's not just another boring piece of legislation – it's Missouri's ticket to the crypto party! The bill is basically saying, "Hey, maybe we should diversify our portfolio with some Bitcoin because, you know, inflation is not our friend."

The bill proposes creating a Bitcoin Strategic Reserve Fund (fancy name, right?), which would be like the state's personal Bitcoin piggy bank. And get this – they're not just planning to buy Bitcoin; they're planning to HODL it for at minimum of five years!

The bill would also make it mandatory for all Missouri government entities to accept crypto for things like taxes, fees, and fines. Though, fair warning – you'll have to cover those pesky transaction fees yourself.

Missouri isn't lonely in this crypto adventure though. They're actually joining a growing club of 16 states that are exploring Bitcoin strategic reserves. Utah's already two steps ahead with their House Bill 230, which passed through their House on February 6th. Their bill is even spicier, suggesting up to 5% of certain public funds could go into "qualifying digital assets."

Other states like Arizona, Kentucky, New Hampshire, North Dakota, Wyoming, and South Dakota are also eyeing similar moves. Looks like the crypto FOMO is real in state governments! If passed, this bill would kick in on August 28th, though that date might shift.

Missouri proposes Bitcoin Strategic Reserve Fund with mandatory 5-year HODL period

Bill requires state entities to accept crypto payments for taxes and fees

Missouri joins 15 other states considering similar Bitcoin reserve legislation

Binance CEO Says Institutions And Regulations Drive Bitcoin Growth

Binance CEO Richard Teng is singing praises about how institutional investors and regulations are turning crypto from the weird cousin at family gatherings into the star of the financial show!

And boy, do the numbers back him up! The US spot Bitcoin ETF market has been absolutely crushing it, pulling in a whopping $44.2 billion in its first year since January 2024. January 2025 alone saw $5 billion in inflows - talk about starting the year with a bang!

According to Binance's research from October 2024, 80% of Bitcoin ETF demand is actually coming from retail investors. Plot twist! But don't let that fool you – institutional players, especially investment advisers and hedge funds, are like that friend who shows up late to the party but brings the good stuff!

And speaking of parties, guess who's trying to crash it? Trump Media and Technology Group is filing trademarks for various ETFs and SMAs, including some spicy ones like "Truth.Fi Bitcoin Plus ETF as told in our previous edition. Read it on our site here

Bitwise's investment chief Matt Hougan is feeling pretty bullish too, predicting the spot Bitcoin ETF market could hit $50 billion by the end of 2025.

US Bitcoin ETFs attracted $44.2 billion in first year, with $5 billion in January 2025 alone

80% of Bitcoin ETF demand comes from retail investors, but institutional interest is growing

Trump Media joins the ETF party with trademark filings for crypto-related products

Stablecoins Now Control 90 Percent Of Brazil Crypto Market

According to Central Bank President Gabriel Galipolo, stablecoins are absolutely crushing it, accounting for a whopping 90% of all crypto transactions in the country!

Chainalysis data shows that between July 2023 and June 2024, Brazilian crypto enthusiasts were busy bees, depositing an impressive $90 billion in digital assets. Though interestingly, their report suggests stablecoins only made up about 59.8% of the volume.

Speaking of stable things (unlike my joke attempts), e-commerce giant Mercado Libre jumped into the game in August 2024 with their "Meli Dollar" stablecoin.

Brazil's newest digital currency project that's definitely not a CBDC (they were very clear about that). It's more like a financial infrastructure upgrade, using distributed ledger technology to make interbank transactions smoother than a Brazilian wax!

Stablecoins processed $27.6 trillion in transfers last year, beating both Visa and Mastercard's combined volumes.

Stablecoins dominate 90% of Brazil's crypto transactions, though some data suggests otherwise

Brazilians deposited $90 billion in crypto assets between July 2023-June 2024

Drex confirmed as infrastructure project, not a CBDC, focusing on improving credit accessibility

Meme of the week.

And there you have it, wonderful PoI readers! 🎭 From Japan's regulatory tango to Brazil's stablecoin samba, we've covered quite the global crypto conga line today! Whether you're a Bitcoin maximalist, stablecoin enthusiast, or just here for the witty commentary (I see you! 👀), I hope today's digest gave you something to chew on!

Stay curious, stay informed. Until tomorrow, this is your favorite ice cream-named crypto journalist, Mochi, melting away!

P.S. Don't forget to share your thoughts, questions, and favorite crypto puns with us. very voice matters in the PoI community!

🍨📰 Catch you in the next issue! 📰🍨