Crypto News: Hawk Tuah Speaks Out, Japan Targets Unregistered Crypto Apps, Utah Moves Closer to Bitcoin Reserve

In today’s crypto news, several significant developments are shaping the digital asset space. Among them, Haliey Welch—known widely as the "Hawk Tuah" girl—has broken her silence after nearly two months, while Japanese regulators have cracked down on unregistered cryptocurrency exchanges. Meanwhile, Utah is making strides to become the first U.S. state to create a Bitcoin reserve, a move that could have broader implications for crypto adoption in the U.S.

Haliey Welch Breaks Silence After Memecoin Crash

Haliey Welch, the face behind the viral "Hawk Tuah" memecoin, made her first public appearance after nearly two months of silence following the rise and fall of the HAWK token. In an interview with popular podcaster FaZe Banks, Welch revealed that she was initially approached with the idea of launching the memecoin by the project manager, who promised a long-term, positive impact on the crypto space.

Welch admitted she was initially reluctant to launch the token, having little experience in the crypto world, but was persuaded by the promise that half of the funds raised would go to her charity. Unfortunately, the project’s outcome was far from what she expected. Welch expressed her disappointment, stating, "It was brought to me in a positive way — it was going to be something good and long-term, but it didn’t go that route at all, so it was like a smack in the face."

Her attorney, Christian Barker, added that the development team and project managers had misled Welch about the tokenomics, noting that the developers still control 80% of the HAWK token supply.

Japan Targets Unregistered Crypto Exchange Apps

Japan's Financial Services Agency (FSA) has ramped up its regulatory efforts by asking Apple and Google to remove five unregistered cryptocurrency exchange apps from their respective app stores. The FSA requested that downloads be suspended for exchanges such as Bybit, KuCoin, MEXC Global, LBank, and Bitget, all of which are operating without registration in Japan.

Apple complied with the request on February 6, removing these apps from its App Store, preventing Japanese users from downloading them. While the FSA’s actions are in line with its cautious approach to cryptocurrency regulation, experts believe the move is not necessarily a step toward limiting retail crypto investing in Japan, but rather a push for compliance with local regulations.

Japan’s stance on crypto regulation has been more cautious compared to other Asian markets. While countries like Hong Kong have already approved the first Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETFs), Japan remains wary of the volatility associated with crypto assets, especially in the ETF market.

Utah Moves Closer to Becoming First U.S. State with Bitcoin Reserve

In the U.S., Utah is taking significant steps toward becoming the first state to establish a Bitcoin reserve. On February 6, Utah’s House of Representatives passed a bill that would grant the state’s treasurer the authority to allocate up to 5% of certain public funds to purchase "qualifying digital assets" such as Bitcoin, stablecoins, and other high-cap cryptocurrencies.

The bill, known as HB 230 Blockchain and Digital Innovation Amendments, was proposed by Utah Representative Jordan Teuscher on January 21. It passed through the House Economic Committee on January 28 with an 8-1 vote before reaching the House floor. Now that the bill has passed the House, it will move to the Senate for approval before it can be signed into law by the governor.

This move positions Utah as a leader in the integration of digital assets into state governance. Neighboring Arizona has also proposed similar legislation, with the Arizona Senate Finance Committee passing the Strategic Bitcoin Reserve Act (SB1025) on January 27. Arizona’s bill would allow up to 10% of a government entity's or public fund's capital to be invested in Bitcoin or other cryptocurrencies.

With Utah and Arizona advancing Bitcoin reserve bills, other states may soon follow suit. According to Bitcoin Reserve Monitor, 14 states in total have introduced legislation allowing local treasuries to invest in cryptocurrency assets.

Looking Ahead

Today’s developments highlight growing tensions in the global regulatory landscape surrounding cryptocurrency. Haliey Welch’s experience with the HAWK memecoin reflects the challenges faced by projects in an increasingly scrutinized market. At the same time, Japan’s regulatory actions against unregistered crypto exchanges underscore the country’s commitment to compliance. Meanwhile, Utah’s potential move to establish a Bitcoin reserve signals a growing acceptance of cryptocurrency in mainstream finance.

As these events unfold, they will undoubtedly continue to shape the evolving crypto ecosystem, with potential ripple effects for the broader financial industry.