The Collapse of Mt. Gox put regulators around the world on notice that digital assets could no longer be ignored. There is no regulator that got that message loud and clear more than the Japan Financial Services Agency.
In today’s episode, Chengyi Ong, Head of Policy (APAC) at Chainalysis has an insightful discussion with Ryosuke Ushida (Chief FinTech Officer, Financial Services Agency of Japan) about the pioneering role their agency had in crypto regulation and how Japan was able to successfully strike a balance between innovation and risk mitigation.
Ryosuke shares the evolution of Japan's holistic digital asset strategy, involving cross-agency collaboration to seamlessly integrate regulatory and innovation goals.
He highlights stablecoin regulation, International harmonization of crypto policies and tackling security concerns stemming from cyber threats, while showcasing Japan's multifaceted approach to fintech and digital assets.
Minute-by-minute episode breakdown
2 | Ryosuke Ushida blockchain journey and leading innovation at JFSA
4 | The fall of Mt. Gox that lead to early adoption of crypto regulations in Japan
7 | The benefits and challenges of being an early regulator in digital assets
10 | Japan's self regulation and public private partnerships to scale compliance in crypto
14 | How Japan could leverage blockchain for cross-border payments and IP transfer
19 | Prioritizing consumer and national security in the wake of large crypto hacks
24 | Japan Fintech Week: A global gathering of innovation and networking
28 | Stablecoins, AI and global regulatory and financial crime challenges in crypto
33 | Crypto Trends: Overused words, regulatory priorities and fintech aspirations
Related resources
Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.
Website: JFSA: The Financial Services Agency is a Japanese government agency and an integrated financial regulator
Guidance: Joint Statement on Cryptocurrency Thefts by the Democratic People’s Republic of Korea and Public-Private Collaboration
Event: Japan Fintech Week 2025 (highlights coming soon!)
Blog: Nobitex, Sanctions, and The $90 Million Exploit: A Window into Iran’s Largest Crypto Exchange
Blog: The Security Risks of Stablecoins: How Hackers Exploit Centralized and Decentralized Issuers
Announcement: Chainalysis and Aptos Foundation Partner to Increase Trust and Security
YouTube: Chainalysis YouTube page
Twitter: Chainalysis Twitter: Building trust in
Speakers on today’s episode
Chengyi Ong *host* (Head of Policy (APAC), Chainalysis)
Ryosuke Ushida (Chief FinTech Officer, Financial Services Agency of Japan)
This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.
Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.
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39:09
Tackling Tax Fraud with Data and AI
In this episode, Jim Lee (Global Head of Capacity Building, Chainalysis) sits down with Richard Las (Chief Investigation Officer, Director Fraud Investigation Service, HM Revenue & Customs) to discuss cutting-edge developments in tax fraud investigations.
Richard shares his experience in managing a multi-faceted team and emphasizes the importance of international collaborations in combating financial crime, while sharing HMRC's approach to tax compliance, the impact of technological advancements in investigation and the role of public-private partnerships in reinforcing global financial security.
The episode highlights the use of intelligence-led investigations, showcasing how data and private sector partnerships augment HMRC's efforts and how strategic data analysis aids in the fight against tax evasion, particularly with regard to burgeoning areas like crypto assets.
Minute-by-minute episode breakdown
2 | Richard Las' background and his role at HMRC
4 | HMRC's fraud investigation service and capabilities
7 | Tax obligations for crypto holders in the UK
10 | Civil vs criminal tax offenses in undisclosed crypto gains
12 | International cooperation against tax evasion
15 | Public Private Partnerships and leveraging crypto service providers
Related resources
Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.
Website: HMRC: UK’s tax, payments and customs authority
Report: HMRC Internal Manual: Cryptoassets Manual
Guidance: 01Jan2026: New data collection and reporting requirements for UK Cryptoasset Services
Forum: HMRC Community Forums - Crypto Tax (BETA)
Blog: Huione Carries On: Chinese-Language Platform’s Persistence Reveals the Complexity of On-chain Financial Crime Disruption
Announcement: Chainalysis and Aptos Foundation Partner to Increase Trust and Security
YouTube: Chainalysis YouTube page
Twitter: Chainalysis Twitter: Building trust in blockchain
Speakers on today’s episode
Jim Lee *host* (Global Head of Capacity Building, Chainalysis)
Richard Las (Chief Investigation Officer, Director Fraud Investigation Service, HM Revenue & Customs)
This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.
Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.
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22:05
Policing the Metaverse
If we look out 5-10 years, what is going to be more important to the next generation. Is it their digital life or their physical life?
In this “Live from Links” episode, Patrick Ghion, Chief Cyber Strategy Officer for the Geneva Cantonal Police and an active member of the INTERPOL Metaverse Expert Group provides his answer to Jim Lee (Global Head of Capacity Building, Chainalysis), who spent almost 30 years with IRS Criminal Investigation team.
The duo discusses the complexities of law enforcement's evolving landscape in the digital age and the critical role of public-private partnerships and academia in combating cybercrime.
Patrick provides context around the creation of regional Cyber Competence Centers (RC3) and the progress law enforcement is making in the metaverse, while encouraging police departments to strategize for future threats, training, and the integration of AI.
Minute-by-minute episode breakdown
2 | Patrick’s career progression and intro to Regional Cyber Competence Center (RC3)
5 | Metaverse policing strategy and approach to “Vision 2030”
7 | Societal shift to report cybercrimes to police in the metaverse than in real life
11 | Public-Private and Academic Partnerships
15 | Hiring strategy for law enforcement for crypto and AI
19 | Reflections on Links Conference and networking
Related resources
Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.
Website: Geneva Police: Protect and Serve
Blog: Vision 2030+: Geneva Police in the Metaverse
Blog: Chainalysis Links NYC 2025 – Day 1 Showcases Innovation, Security, and Collaborative Power
Chainalysis In Action: How Chainalysis Helped the FBI Track Down and Freeze Millions in the Caesars Casino Ransomware Attack
Blog: AI-Powered Crypto Scams: How Artificial Intelligence is Being Used for Fraud
YouTube: Chainalysis YouTube page
Twitter: Chainalysis Twitter: Building trust in blockchain
Speakers on today’s episode
Jim Lee *host* (Global Head of Capacity Building, Chainalysis)
Patrick Ghion (Chief Cyber Strategy Officer, Geneva Cantonal Police)
This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.
Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.
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24:53
Future of Ethereum: Scalability, Stablecoins and Innovation
How does someone who has been through multiple bear and bull markets in crypto, cope with such a volatile industry?
Keep Building.
In this “Live from Links” episode, Caitlin Barnett, Director of Regulation & Compliance at Chainalysis) reconnects with her former Gemini co-worker, Ira Auerbach (Head of Tandem, Offchain Labs) as they go deep on the scalability and innovation challenges and successes on the Ethereum blockchain.
Ira shares the initiatives at NASDAQ and Gemini that bridged traditional finance products to the crypto market and how his focus has shifted at Offchain Labs, where they are fostering blockchain innovation, solving complex computational challenges and emphasizing stablecoins' impact on market dynamics.
A great episode for founders, investors and compliance folks in the crypto industry.
Minute-by-minute episode breakdown
2 | Lessons from many crypto bull and bear markets
4 | Focus on institutional solutions and stablecoins
6 | Offchain Labs and Arbitrum improve scalability and usability on Ethereum
8 | Blockchain gaming, decentralized sequencers and fully homomorphic encryption (FHE)
10 | Tandem's partner studio and venture capital Approach
12 | Current crypto investment landscape
14 | Camelot and the industry’s shift to DeFi after centralized collapses
16 |Future of investing in blockchain and AI
18 | Thoughts on stablecoin infrastructure players in the industry
Related resources
Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.
Website: Offchain Labs: Scaling Ethereum Without Compromise
Blog: Bringing Interoperability to Arbitrum and Ethereum
Announcement: Tandem by OCL Invests in Camelot, the Largest Native DEX on Arbitrum
Blog: OFAC Sanctions Funnull Technology Inc. for Supporting Pig Butchering Scams
Blog: Bitcoin Strategic Reserves: Behind the Changing Architecture of Sovereign Finance
Blog: AI-Powered Crypto Scams: How Artificial Intelligence is Being Used for Fraud
YouTube: Chainalysis YouTube page
Twitter: Chainalysis Twitter: Building trust in blockchain
Speakers on today’s episode
Caitlin Barnett *host* (Director of Regulation & Compliance, Chainalysis)
Ira Auerbach (Head of Tandem, Offchain Labs)
This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.
Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.
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23:33
How Crypto is Transforming Traditional Banking
Solana spot ETF applications, the OCC green lighting digital asset activity and the US emphasizing its desire to be the crypto capital of the world.
It's hard not to feel the momentum that is happening in the US and worldwide when it comes to crypto transforming traditional banking.
In this “Live from Links” episode, Eitan Danon (Content Marketing Manager, Chainalysis) has an in person discussion with Carlos Salinas, Head of Digital Assets at Morabanc on the fascinating intersection of fintech, digital assets and traditional banking in Andorra.
Carlos shares how his bank has responded to both client demand and new forms of economic activity, highlighting their novel digital asset custody solutions and the transformative role of regulatory frameworks that Andorra implemented three years ahead of its European peers, allowing Morabanc to navigate the burgeoning digital asset landscape effectively.
The conversation highlights the crucial balance between risk mitigation and innovation, drawing parallels between the evolution of derivatives and the current wave of cryptocurrencies, while discussing the bank's strategy in offering stablecoin-based settlement solutions.
This is truly a snapshot of current trends but also a look at the future potential for programmable finance and digital assets.
Minute-by-minute episode breakdown
2 | Comparing derivatives in the early 2000s to early days of cryptocurrency
4 | Andorra: Unique characteristics and financial environment
6 | Morabanc's role in digital asset custody came from customer demand
11 | The impact the USA momentum on digital assets has around the world
14 | Introducing Morabanc’s revolutionary new stablecoin settlement solution
19 | Consumer protection and crypto security at Morabanc
21 | Future roadmap for Morabanc and digital assets
25 | Attackers try to hack Carlos on LinkedIn
Related resources
Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.
Website: Morabanc: We understand the new role of responsible banking, bringing greater value to our stakeholders
Blog: New LinkedIn Scam: How to Detect It and Protect Yourself
Announcement: MoraBanc offers the first digital asset custody wallet in Andorra
Customer Story: Morabanc serves as trusted entry point to world of digital assets
Event: Links 2025 Digital Premiere: Free virtual event bringing together the leaders defining the future of blockchain intelligence
Blog: U.S. Senate Advances GENIUS Act: Long Awaited Stablecoin Framework Edges Closer to Reality
Blog: What the Huione Group Shutdown Signals About the Future of Crypto Scam Infrastructure
YouTube: Chainalysis YouTube page
Twitter: Chainalysis Twitter: Building trust in
Speakers on today’s episode
Eitan Danon *host* (Content Marketing Manager, Chainalysis)
Carlos Salinas (Head of Digital Assets, Morabanc)
This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.
Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.
Public Key is the cryptocurrency and compliance podcast, brought to you by Chainalysis.
Every week Chainalysis Chief Marketing Officer, Ian Andrews sits down with thought leaders in the space to discuss
▪Emerging risks and opportunities in blockchain technology
▪How policymakers around the world are approaching crypto regulations
▪Data-driven insights into the latest trends in crypto economics and crime.
▪Breaking news in the crypto market
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To learn more about criminal activity in crypto including scams, money laundering, ransomware and more, download the 2023 Crypto Crime Report: https://go.chainalysis.com/2023-crypto-crime-report.html
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▪Twitter: https://twitter.com/IanAndrewsDC
▪LinkedIn: https://www.linkedin.com/in/ianhandrews
⚠Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.
Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.
Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.