After the 2014 Mt. Gox collapse, which saw $500 million in Bitcoin vanish, Japan has become a global leader in crypto regulation. The Japan Financial Services Agency (JFSA) took swift action, introducing a licensing regime for crypto service providers in 2016 — one of the first in the world.
Ryosuke Ushida, JFSA’s Chief FinTech Officer, explained on the Public Key podcast (by Chainalysis) how the agency has since strengthened regulations, including a 2019 cold wallet rule requiring customer assets be stored offline to prevent hacks.
Japan’s regulatory model now influences international standards. The JFSA also works with global bodies like the FATF to tackle cross-border and illicit crypto activities.
Looking ahead, Japan plans to balance innovation with security. It’s integrating blockchain across various industries and refining its stablecoin framework — one of the world’s first — to ensure safe adoption of digital currencies.
Read the full discussion on the Chainalysis websi
