Skip to content
Log in Join free
Solidus Labs cover art

Solidus Labs

Solidus Labs

A Technology podcast

#139 in Technology · 🇿🇦 #195 in Technology · 🇸🇬
Good podcast? Give it some love!

About the show

These podcast episodes are produced by Solidus Labs, the market integrity firm focused on protecting modern financial markets across crypto, digital assets, and TradFi. The goal is simple: clearer insight into market integrity today, and what it will take to build fair, resilient financial markets tomorrow.

Newest episodes

Australia's Crypto Regulatory Shake-Up: What's Changing and What's Next?

53 min

Australia is moving beyond AML/CTF regulation towards a broader financial services framework for digital assets. What does this mean for crypto exchanges and compliance teams? In this episode of Compliance Champions, Delphine Forma, Head of Policy APAC & Europe at Solidus Labs, welcomes Lisa Hornery, Regional Compliance Officer Australia at Kraken, to discuss Australia's evolving crypto regulatory landscape. They examine ASIC's updated INFO 225, which clarifies how existing financial services laws apply to digital assets, and the new Digital Assets Framework, introducing a dedicated regulatory regime for Digital Asset Platforms and Tokenised Custody Platforms. Lisa shares her perspective on the practical challenges facing businesses, from custody and capital requirements to governance, reporting and operational changes. They also discuss why moving to a full licensing framework requires more than simply updating compliance policies. The conversation explores the role of compliance as a business partner, how to balance regulatory expectations with commercial ambitions, and why understanding a company's risk appetite is essential to finding workable solutions. They also touch on the challenges of implementing the Travel Rule and explore whether stablecoins could help reduce payment costs for Australian consumers and businesses. And to finish on a lighter note, Lisa shares her passion for vintage and sustainable fashion!

Crime Without Borders: Captagon, Fentanyl and Crypto (Part II)

52 min

In this episode of Compliance Champions, Delphine Forma, Head of Policy Europe and APAC at Solidus Labs, continues her special series with Jason Sandoval, former DEA Special Agent and VP, Head of European Operations at Asset Reality. Episode two takes listeners inside two of Jason's most remarkable investigations. The first is Operation Rogue Lion — the multinational case that traced over 45 tons of Captagon and billions in drug revenues back to Maher al-Assad and the Syrian regime, spanning 29 countries, triggering new US and European sanctions, and contributing directly to the fall of Assad. Jason explains how a single container seizure in Salerno, Italy, a Lebanese source network, and a pivotal briefing with State Department officials came together to produce a case that literally changed policy — culminating in the Captagon Act, legislation mandating an interagency response to narco-state drug trafficking. He also reveals how following the money connected the Captagon network to CJNG, the Sinaloa cartel, and shared money launderers — with crypto fingerprints on payments flowing back to the regime. The second investigation moves to Italy, where Jason's Rome office connected a dark web counterfeiter in Piacenza to a Crips gang member running a fentanyl distribution network from inside a US state prison in Cleveland, Ohio. Jason walks through how recorded calls, international search warrants, and Bitcoin transaction analysis led to 19 arrests across two countries — and how a distribution-resulting-in-death charge was built from a call where a supplier coached a customer through the fentanyl formula that had already killed someone. Rounding out the episode: Jason's defining moment in Charleston, South Carolina, where a seemingly ordinary dark web dealer turned out to be sitting on 150 Bitcoin across five Ledger wallets — selling synthetic drugs to 24 states and two foreign jurisdictions from a small duplex, using the US Postal Service as his unwitting distributor. A...

Following the Money: From Cartels to Crypto (Part I)

48 min

In this episode of Compliance Champions, Delphine Forma, Head of Policy Europe and APAC at Solidus Labs, continues her special series with Jason Sandoval, former DEA Special Agent and VP, Head of European Operations at Asset Reality. Drawing on a 30-year career in intelligence and law enforcement, Jason takes us inside his investigations into "El Chapo" Guzmán and the Sinaloa cartel, sharing firsthand insights into how criminal organisations operate, move money and adapt to new technologies. From tracing cartel assets through property records and investigating traditional money laundering networks to the growing use of cryptocurrencies, the conversation explores the challenges of following illicit financial flows across borders and why international law enforcement cooperation remains critical

Similar podcasts

All episodes

Australia's Crypto Regulatory Shake-Up: What's Changing and What's Next?

53 min

Australia is moving beyond AML/CTF regulation towards a broader financial services framework for digital assets. What does this mean for crypto exchanges and compliance teams? In this episode of Compliance Champions, Delphine Forma, Head of Policy APAC & Europe at Solidus Labs, welcomes Lisa Hornery, Regional Compliance Officer Australia at Kraken, to discuss Australia's evolving crypto regulatory landscape. They examine ASIC's updated INFO 225, which clarifies how existing financial services laws apply to digital assets, and the new Digital Assets Framework, introducing a dedicated regulatory regime for Digital Asset Platforms and Tokenised Custody Platforms. Lisa shares her perspective on the practical challenges facing businesses, from custody and capital requirements to governance, reporting and operational changes. They also discuss why moving to a full licensing framework requires more than simply updating compliance policies. The conversation explores the role of compliance as a business partner, how to balance regulatory expectations with commercial ambitions, and why understanding a company's risk appetite is essential to finding workable solutions. They also touch on the challenges of implementing the Travel Rule and explore whether stablecoins could help reduce payment costs for Australian consumers and businesses. And to finish on a lighter note, Lisa shares her passion for vintage and sustainable fashion!

Crime Without Borders: Captagon, Fentanyl and Crypto (Part II)

52 min

In this episode of Compliance Champions, Delphine Forma, Head of Policy Europe and APAC at Solidus Labs, continues her special series with Jason Sandoval, former DEA Special Agent and VP, Head of European Operations at Asset Reality. Episode two takes listeners inside two of Jason's most remarkable investigations. The first is Operation Rogue Lion — the multinational case that traced over 45 tons of Captagon and billions in drug revenues back to Maher al-Assad and the Syrian regime, spanning 29 countries, triggering new US and European sanctions, and contributing directly to the fall of Assad. Jason explains how a single container seizure in Salerno, Italy, a Lebanese source network, and a pivotal briefing with State Department officials came together to produce a case that literally changed policy — culminating in the Captagon Act, legislation mandating an interagency response to narco-state drug trafficking. He also reveals how following the money connected the Captagon network to CJNG, the Sinaloa cartel, and shared money launderers — with crypto fingerprints on payments flowing back to the regime. The second investigation moves to Italy, where Jason's Rome office connected a dark web counterfeiter in Piacenza to a Crips gang member running a fentanyl distribution network from inside a US state prison in Cleveland, Ohio. Jason walks through how recorded calls, international search warrants, and Bitcoin transaction analysis led to 19 arrests across two countries — and how a distribution-resulting-in-death charge was built from a call where a supplier coached a customer through the fentanyl formula that had already killed someone. Rounding out the episode: Jason's defining moment in Charleston, South Carolina, where a seemingly ordinary dark web dealer turned out to be sitting on 150 Bitcoin across five Ledger wallets — selling synthetic drugs to 24 states and two foreign jurisdictions from a small duplex, using the US Postal Service as his unwitting distributor. A...

Following the Money: From Cartels to Crypto (Part I)

48 min

In this episode of Compliance Champions, Delphine Forma, Head of Policy Europe and APAC at Solidus Labs, continues her special series with Jason Sandoval, former DEA Special Agent and VP, Head of European Operations at Asset Reality. Drawing on a 30-year career in intelligence and law enforcement, Jason takes us inside his investigations into "El Chapo" Guzmán and the Sinaloa cartel, sharing firsthand insights into how criminal organisations operate, move money and adapt to new technologies. From tracing cartel assets through property records and investigating traditional money laundering networks to the growing use of cryptocurrencies, the conversation explores the challenges of following illicit financial flows across borders and why international law enforcement cooperation remains critical

From Intelligence to Action: Inside the Fight Against Financial Crime

50 min

In this episode of Compliance Champions, Delphine Forma, Head of Policy at Solidus Labs, speaks with Toms Platacis, Head of Latvia's Financial Intelligence Unit and Head of Delegation to both MONEYVAL and FATF — one of Europe's most experienced financial intelligence authorities and a leading voice in the global AML/CFT community. They explore how financial crime has evolved in practice — how funds now move fluidly across banks, payment providers, crypto exchanges, self-hosted wallets, money mules, and DeFi protocols, and what that means for how FIUs investigate, coordinate, and share intelligence. Toms shares concrete typologies and real investigative examples that illustrate how the threat landscape is shifting, including the most common crypto-related money laundering and sanctions circumvention patterns Latvia is seeing on the ground today. The conversation goes deep on digital assets — addressing the persistent misconception that crypto is the criminal's tool of choice, and exploring cases where blockchain transparency has actually made investigators' work easier rather than harder. They also tackle DeFi, including Latvia's practical approach to arrangements that present as decentralised but involve identifiable controlling parties, and whether DeFi is already featuring in live investigations. Rounding out the episode: how Latvia's strong public-private partnership model works and why it matters, how international FIU cooperation functions in practice, and what it meant for Latvia to be the first country assessed under FATF's new mutual evaluation methodology — with hard-won advice for any authority preparing for their own evaluation. A frank, experience-led conversation for compliance professionals, financial crime investigators, and policymakers who want to understand what effective financial intelligence really looks like — and where the fight against financial crime is heading next.

The Republic of OnChain: Taiwan’s Digital Asset Ambition

44 min

In this episode of Compliance Champions, Delphine Forma speaks with Dr. Ju-Chun Ko, Member of Taiwan’s Legislative Yuan and one of the lead sponsors behind Taiwan’s Virtual Asset Service Provider Act and AI Basic Act. They discuss Taiwan’s move from AML registration towards a full licensing framework for digital asset businesses, the challenges posed by fraud and financial crime, and the opportunities around stablecoins, tokenisation and tokenised securities. The conversation also explores Taiwan’s approach to AI regulation and how the country can combine its strengths in technology, semiconductors and capital markets to build its next chapter in digital finance. A sharp, forward-looking conversation for compliance professionals, policymakers, and business leaders tracking how Asia's most technologically advanced economies are building the regulatory foundations for the next phase of digital finance.

​​From TradFi to Crypto: Rethinking Market Surveillance

42 min

Join Delphine Forma, Head of Policy APAC & Europe at Solidus Labs, as she sits down with Alex Tsilipanos, Head of Market Surveillance at Perpetuals.com — a regulated MTF bringing institutional-grade infrastructure to crypto perpetual futures. They unpack what it really takes to build a market surveillance function from scratch for crypto perps trading — from detecting funding rate manipulation and cross-venues abuse, to combining on-chain and off-chain data into a single surveillance framework. Drawing on years of experience at Interactive Brokers and now at the frontier of crypto derivatives, Alex brings a rare practitioner's perspective on one of compliance's most technically demanding disciplines.

Ready, Willing and Organised: Inside the FCA’s New Crypto Regime

38 min

In this episode of Compliance Champions, Delphine Forma speaks with Val Smith, Head of Payments and Digital Assets Authorisations at the FCA, about the UK’s transition from AML registration to full FSMA authorisation for crypto firms. Val explains what the FCA will look for when assessing applications, what it means to be “ready, willing and organised,” and what the FCA has learned so far from its Pre-Application Support Service. They also discuss realistic authorisation timelines and what can slow the process down. The conversation also covers MARC and market abuse surveillance, including the FCA’s expectation that effective surveillance considers both on- and off-chain activity, as well as orders, transaction flows and communications. Finally, they explore what the FCA expects from international crypto firms operating global models, including UK presence, governance and the ability to demonstrate that UK regulatory standards can be met on an ongoing basis.

Building Trust at Network Speed: Inside Stablecoin Compliance

34 min

In this episode of Compliance Champions, Delphine Forma speaks with Sugandhi Govil, Director Compliance, APAC at Circle, about what it takes to build trust and operate a compliance programme for regulated stablecoins — from governance and compliance by design to managing financial-crime risk at network speed. They explore how the speed and transparency of blockchain networks shape compliance, providing visibility into risks beyond an issuer’s direct customer relationships and enabling secondary-market monitoring and faster identification of emerging typologies. They also discuss why effective risk management requires collaboration across the ecosystem and how blockchain analytics and AI are changing financial-crime monitoring and investigations. Finally, Delphine and Sugandhi look at the evolving regulatory landscape across APAC, including growing convergence around governance, reserve backing, transparency and AML/CFT controls, and why regulated stablecoin issuers should not simply be viewed through the same lens as the broader crypto ecosystem.

SEC Commissioner Hester Peirce on What’s Next [Bonus DACOM 2026 Episode]

52 min

In this special episode, recorded for DACOM NYC 2026, SEC Commissioner Hester Peirce joins Solidus Labs’ CXO Chen Arad to explore her journey, the landmark rulemaking work underway, how that work connects to broader capital markets reform, and her reflections on what has changed and what still needs to be done. In 2019, Solidus had the honor of hosting SEC Commissioner Hester Peirce as a keynote speaker at the inaugural DACOM NY Summit. At a time when the SEC was repeatedly rejecting Bitcoin ETF applications and regulation by enforcement was the norm, Commissioner Peirce emerged as a principled dissenting voice within the agency, earning her the iconic nickname "Crypto Mom." In November this year, she will be departing her role, leaving an agency with a completely different posture towards digital assets and innovation. Over the past eighteen months as head of the SEC's Crypto Task Force, she has steered a significant shift in the agency's approach: from regulation by enforcement toward fit-for-purpose frameworks, industry engagement, and realistic compliance paths.

Beyond Stablecoins: Inside Japan's Tokenized Deposit Revolution

41 min

Join Delphine Forma, Head of Policy Europe at Solidus Labs, as she sits down with Mai Kaneko, International Business Lead at DCP — the company behind the DCJPY Network, Japan's multi-bank tokenised deposit infrastructure. They explore one of the most consequential and least understood developments in digital finance — the rise of tokenised deposits as a distinct and complementary form of digital money. Drawing on Japan's position as one of the first markets where tokenised deposits are becoming a commercial reality, Mai brings a rare insider perspective on what it takes to build shared financial infrastructure across competing banks, regulators, and borders.

Inside Korea’s Digital Asset Market: Regulation, Market Integrity and the Road Ahead

39 min

Join Delphine Forma, Head of Policy APAC & Europe at Solidus Labs, as she sits down with Jackie Baek, Compliance Head of Korea at Crypto.com, to explore what it actually takes to operate in one of the world’s largest and most distinctive digital asset markets Korea combines extraordinary retail participation with stringent regulatory requirements and an increasingly sophisticated approach to market integrity. From VASP registration and the real-name bank account system to AML, market abuse, institutional participation and tokenized securities, Jackie takes us inside how the Korean market works today and where it is heading next.

Beyond Policies: Building an AML Programme That Works

49 min

What does it take to build an AML programme that actually works in practice? In this episode of Compliance Champions, Delphine Forma speaks with Tigran Rostomyan, Founder & CEO of AML Incubator, about Canada's AML framework for crypto businesses and the practical realities of building an effective compliance programme. Tigran explains how FINTRAC registration interacts with Canada's securities framework, the five core components of an AML programme, and why the risk assessment should be the foundation for the controls a firm puts in place. The conversation explores the practical challenges of the Travel Rule, including unhosted wallets and missing counterparty information, as well as how firms can build effective transaction monitoring by bringing together KYC, customer behaviour, fiat and crypto activity, blockchain analytics and sanctions screening. Delphine and Tigran also discuss key crypto financial crime typologies, suspicious transaction reporting and examination readiness, with a recurring theme throughout the conversation: having policies is not enough. Firms need to demonstrate that their AML controls are risk-based, properly implemented and effective in practice.

Inside Canada's Crypto Rulebook: Crypto Contracts, Market Structure and Tokenization

59 min

In this episode of Compliance Champions, Delphine Forma speaks with Torstein Braaten, Chief Compliance Officer at Canada Stablecorp and Managing Director at Eskay Capital, about Canada's distinctive approach to digital asset regulation. Rather than regulating crypto-assets themselves, Canada has built its framework around the concept of the crypto contract, a unique legal approach that shapes everything from licensing and custody to market structure and investor protection. Together, they explore how Canada's regulatory framework has evolved, why understanding a firm's business model is just as important as understanding the assets it offers, and how the market is preparing for the next phase of tokenization.

Operationalising Compliance: The Machinery, Not the Theatre

43 min

As digital asset regulation matures, compliance is no longer just about understanding regulatory requirements. The real challenge is turning those requirements into governance, controls and operating models that work in practice. In this episode of Compliance Champions, Delphine Forma sits down with Nehal Chudasama, Head of Compliance and MLRO at Enigma Securities, to discuss what it really means to operationalise compliance. Drawing on his experience building compliance frameworks for an institutional digital asset broker, Nehal shares practical insights on scaling governance, preparing for new regulatory regimes, designing effective market surveillance frameworks and using AI to strengthen—rather than replace—professional judgement.

Controlled Openness: Inside Cambodia's Digital Asset Regulatory Framework

52 min

In this episode of Compliance Champions, Delphine Forma, Head of Policy Europe and APAC at Solidus Labs, speaks with Dr. Vin Pheakdey, Deputy Director General and Chair of the FinTech Working Group at the Securities and Exchange Regulator of Cambodia. They explore how Cambodia has transformed its approach to digital assets — from restricting unlicensed crypto activity in 2018 to establishing a formal, dual-authority licensing framework under SERC and the National Bank of Cambodia. Dr. Vin walks through the architecture of Prakas 093, which classifies digital assets as financial instruments and securities, and explains what firms need to demonstrate to navigate the sandbox process and secure a full licence. He also shares the most common gaps SERC sees in applications — practical intelligence for any firm considering the Cambodian market. The conversation also explores the realities of supervising a borderless market. Dr. Vin shares why offshore unregulated platforms remain one of the biggest challenges facing regulators, why international cooperation and information sharing are indispensable, and how Cambodia is embedding market integrity into its framework through transaction monitoring, trade surveillance, RegTech, SupTech and direct supervisory access to transaction data. They also discuss Project Bakong — Cambodia's blockchain-based digital payment system with over 65% population penetration — and how its success has shaped the country's confidence and approach to broader digital asset regulation. Rounding out the episode: Cambodia's international engagement strategy including its bilateral meeting with the U.S. SEC, lessons learned for other emerging market regulators, and a preview of the joint NBC-SERC guideline on digital asset supervision currently in development. A sharp, forward-looking conversation offering a rare regulator-side view into how emerging markets are building digital asset frameworks — and why Cambodia's approach deserves more attention than...

Regulatory Reporting at Scale: Inside Bitpanda's Compliance Engine

45 min

In this episode of Compliance Champions, Delphine Forma, Head of Policy Europe at Solidus Labs, speaks with Philipp Ringel, Team Lead for Regulatory Reporting at Bitpanda — one of Europe's largest and most licensed crypto platforms. They explore what regulatory reporting really involves at scale, including how Bitpanda manages over 100 reports across multiple licenses and regulatory frameworks. Philipp shares how the function has matured over five years, what makes crypto reporting uniquely complex compared to traditional finance, and how firms can design processes that hold up under scrutiny. The conversation goes deep on data — why quality and governance matter from day one, how to capture the right data points early in the customer journey, and how to normalise information across different reporting regimes. They also cover the role of automation and AI, the practical challenges posed by MiCA's still-evolving requirements, and how to navigate reporting to stablecoin issuers where centralised infrastructure simply doesn't exist yet. A practical, experience-led conversation for compliance and reporting professionals building the infrastructure that keeps regulated crypto firms accountable.

The Endgame: Inside a Crypto Wind-Down Under MiCA

48 min

What does it actually take to wind down a crypto exchange responsibly? Following the withdrawal of Kriptomat's MiCA application, Delphine Forma speaks with Dejan Davidovič about one of the least discussed areas of crypto compliance: how to close a regulated business while continuing to protect customers and meet regulatory expectations. Together they explore how Kriptomat designed its wind-down strategy, communicated transparently with customers, selected Kraken as its migration partner, managed dormant accounts and asset delistings, and continued meeting its AML and reporting obligations long after trading had stopped. They also discuss the regulatory uncertainty surrounding firms caught between legacy licensing regimes and MiCA, why clear regulatory guidance on wind-downs is still missing, and the lessons every compliance officer, founder and policymaker should take from the first generation of MiCA applications. Whether you're preparing for authorisation, managing regulatory change or simply interested in the realities of running a regulated crypto business, this episode offers practical insights rarely shared in public.

The Future of Payments and Digital Assets in Australia

47 min

What does compliance look like when payments regulation, crypto licensing, and AML requirements are all changing at the same time? In the latest episode of Compliance Champions, Delphine Forma sits down with Hailey Shi, Legal Counsel at Manova, for a deep dive into Australia's rapidly evolving regulatory landscape and what it means for payment service providers, crypto businesses, and compliance professionals. They cover: • Australia's transition to a new function-based payments licensing framework • how the digital asset licensing regime will impact exchanges, broker dealers, custodians, and assets tokenization platforms • the implications of bringing crypto businesses into a broader financial services framework • the shift from prescriptive AML rules to risk-based compliance obligations • travel rule implementation challenges for payment providers and digital asset businesses • the introduction of reporting groups and lead entities under Australia's AML reforms • practical strategies for operationalizing major regulatory change across legal, compliance, product, and engineering teams • where AI can improve compliance efficiency and support regulatory implementation efforts Hailey shares practical lessons from the front lines of regulatory transformation, offering valuable insights into licensing, financial crime compliance, governance, payments infrastructure, and digital asset regulation. A must-listen episode for professionals working in compliance, legal, financial crime, payments, fintech, and cryptocurrency regulation.

The Hub Model: How to License Smart Across Crypto and TradFi

56 min

What does regulatory compliance look like when your business spans traditional finance, crypto assets, multiple jurisdictions, and evolving regulatory frameworks? In the latest episode of Compliance Champions, Delphine Forma sits down with Dimitar Manolchev, Managing Director of Regulatory Compliance at FXCM Group, for an in-depth discussion on building global licensing strategies across traditional financial services and digital assets. They cover: • how firms design licensing strategies across the globe and global markets • why regulatory synergies matter more than simply collecting licenses • the practical advantages and limitations of MiCA Article 60 notifications • the relationship between MiFID and MiCA licensing frameworks • appropriateness and suitability tests in financial services and digital assets • ESMA's position on crypto perpetual futures and the implications for retail investors and crypto exchanges • managing regulatory uncertainty and conflicting supervisory expectations across jurisdictions • how compliance teams can build flexible frameworks that adapt to regulatory change • the growing role of AI in compliance advisory, monitoring, regulatory reporting, and governance Dimitar shares practical lessons from operating across multiple regulatory regimes and explains how compliance leaders can balance regulatory expectations, business objectives, and innovation in an increasingly complex global environment. A must-listen episode for professionals working in crypto compliance, digital asset regulation, financial services regulation, licensing, risk management, and fintech governance.

Compliance Without Borders: Building a Global Crypto Framework

1 hr 1 min

In this episode of Compliance Champions, Delphine Forma, Head of Policy Europe at Solidus Labs, speaks with Johan Hetzel, Global Head of Compliance & Anti-Financial Crime at Luno — a leading crypto exchange operating across Africa, Europe, and Southeast Asia. They explore the practical realities of scaling compliance across multiple jurisdictions — from the principle-based framework in South Africa to the more prescriptive rules in Malaysia — and how firms design global standards while allowing for local adaptation. Johan shares his approach to building trade surveillance programmes, managing the tension between compliance and engineering priorities, and tackling some of the industry's most debated challenges: travel rule implementation and unhosted wallet treatment. The conversation also covers the growing role of AI in financial crime detection — where it genuinely helps and where the risks lie — as well as what compliance leaders should prioritise when everything feels urgent and resources are never enough. A candid, experience-driven conversation offering a rare practitioner's view into what global compliance leadership in crypto actually looks like.

Inside New Zealand’s Crypto Regulatory Playbook (FMA Insights)

1 hr 1 min

Join Delphine Forma, Head of Policy Europe at Solidus Labs, as she sits down with Alan Crofts, Sarah Davidson, and Nelson Curry from the New Zealand Financial Markets Authority. They unpack how New Zealand regulates digital assets—from defining financial services and stablecoins to tackling scams, custody risks, DeFi, and market abuse. A practical, regulator-led deep dive into compliance expectations, enforcement trends, and what’s next for crypto oversight.

Why Japan Could Become Crypto’s Next Institutional Hub: Designing Compliance in a New Regulatory Era

48 min

In this episode of Compliance Champions, Delphine Forma, Head of Policy Europe at Solidus Labs, sits down with Wise Wang, Head of Legal and Compliance at HashKey Japan. They explore how Japan’s regulatory approach to crypto is evolving, including the shift from a payment-based framework to a capital markets model. Wise shares insights into what these reforms mean for firms operating in Japan, from increased disclosure requirements and stronger investor protection rules to the growing importance of governance, surveillance and internal controls. The conversation also covers the potential impact of tax reform on market activity, the challenges of building compliant crypto businesses in a highly regulated environment, and why firms need to rethink compliance as a core part of their product and strategy. Drawing from his experience in both tech platforms and crypto, Wise also reflects on the similarities between early social media regulation and the current evolution of crypto oversight. A deep dive into one of the most advanced regulatory markets and what it means for the future of institutional crypto adoption.

From Investment Banking to DeFi: Inside SMBC Nikko’s Web3 Transformation

35 min

In this episode of Compliance Champions, Delphine Forma speaks with Taisuke Isono, General Manager of the DeFi Technology Department at SMBC Nikko Securities, about how institutions are approaching decentralized finance, automation, and the future of financial markets From automated market access to AML-driven design, this conversation unpacks how one of Japan’s leading financial institutions is bridging TradFi and DeFi and what it means for the future of finance.

Global Compliance Isn’t One Size Fits All

55 min

In this episode of Compliance Champions, Delphine Forma speaks with Dianah Njeri Igati, Regional Head of Compliance APAC and Company Secretary at Pepperstone, about what it really takes to build compliance across multiple jurisdictions and market types. Dianah explains how Pepperstone approached its crypto launch in Australia, how she thinks about emerging versus developed markets, and why local context matters so much in compliance design. They also discuss Australia’s evolving crypto framework, Africa’s growing regulatory momentum, practical lessons for firms expanding into new markets, and how AI is changing the role of compliance teams. It is a grounded conversation on strategy, regulation, culture, and the future of compliance.

Designing Crypto Compliance for Global Financial Institutions

47 min

In this episode of Compliance Champions, Delphine Forma speaks with Deepthi Machavaram, Global Head of Digital Financial Crime Advisory at Morgan Stanley, about how large financial institutions are approaching digital asset risks. Deepthi explains how the industry has shifted from early curiosity to operational rigor, and what that means for building effective frameworks around crypto products, vendors, analytics, and controls. They discuss source of funds and source of wealth in crypto, the limits of blockchain analytics, the realities of regulatory misalignment, and why data, governance, resilience, and flexibility matter so much. The conversation also explores tokenization, AI, and the role compliance teams will play as financial institutions navigate digital assets over the next decade.

Standardize the What, Localize the How: Scaling Global Compliance

47 min

What does global compliance look like when your business spans multiple licenses, jurisdictions, products, and platforms? In the latest episode of Compliance Champions, Delphine Forma sits down with Joanna Frendo, Chief Risk Compliance Officer and Head of Compliance at Deriv, for a conversation packed with practical insight from more than 20 years in the field. They cover: • how to build a global compliance framework that actually works in practice • how to balance consistency across the group with local regulatory nuance • why onboarding and suitability must be continuously monitored, not treated as one-off exercises • how AI is changing the way compliance teams stay current and operate at scale • why market abuse surveillance in a multi-asset derivatives business is especially complex A strong episode for anyone working in compliance, risk, regulation, or fintech operations.

Bringing Compliance On-Chain: The Future of Tokenized Real-World Assets

52 min

In this episode of Compliance Champions, Delphine Forma speaks with Salman Banaei, General Counsel at Plume, about the rise of embedded compliance in blockchain infrastructure. They explore how Plume is integrating AML, sanctions screening, trade surveillance and transaction monitoring directly at the protocol and token levels to support real-world asset tokenization. The conversation dives into evolving regulatory approaches to DeFi, including the US market structure bill and global trends. Salman also highlights emerging market abuse risks in on-chain environments and the importance of interoperability across both technology and regulation. The episode offers a forward-looking view on how compliant, global capital markets may develop on-chain in the coming years.

Tokenized Money and the Future of Global Payments

59 min

What does blockchain adoption actually look like inside a global payments company? In this episode, Delphine Forma speaks with Sulaiman Javed, Senior Counsel at Mastercard, about the legal and strategic realities behind stablecoins, tokenized deposits, interoperability, and blockchain-based financial infrastructure. Key themes: • why integration is still the biggest challenge for institutions • how stablecoins and tokenized deposits serve different roles • what makes blockchain use cases succeed in practice • the red flags legal teams should watch for in crypto projects A sharp conversation for anyone working at the intersection of payments, digital assets, and regulation.

Inside Switzerland’s Crypto Regulation Shift

34 min

Delphine Forma sits down with Mercedes Nieto, Chief Compliance Officer Europe and Head of Regulatory at Bitcoin Suisse, to explore how crypto firms navigate regulation across Switzerland and the EU. The conversation unpacks how Switzerland’s AML-focused SRO model works today and what firms can expect as FINMA licensing requirements evolve. Mercedes shares practical insights on preparing for MiCA, including governance, outsourcing, and market abuse considerations. She also breaks down what AML audits look like in practice and where firms are most often challenged. The episode highlights the growing complexity of cross-border compliance and the importance of aligning to the highest regulatory standards. A must-listen for compliance and legal teams operating across multiple jurisdictions.

Scaling a Crypto Startup into a Regulated Global Player

49 min

In this episode of Solidus Labs Compliance Champions, Delphine Forma sits down with Miguel Angel Zapatero, General Counsel at Crossmint, to explore what it takes to build a regulated stablecoin infrastructure company across jurisdictions. Miguel shares Crossmint’s journey from NFT infrastructure into stablecoin payments, including how the company approached its MiCA authorization in Spain, how PSD2 added a second regulatory layer for EMT-related services, and what it means in practice to shift from a startup mindset to a regulated financial services model. The conversation also looks at Crossmint’s global licensing strategy, including expansion plans across Europe, the UK, the US, and beyond, as well as the role of local partners, external counsel, and strong internal compliance functions in making that growth possible. This is a practical episode for legal, compliance, and policy professionals navigating crypto regulation at scale.

Building Bitcoin Capital Markets: Licensing, Compliance, and Crypto’s Next Frontier

48 min

Alfonso Martel Seward, Chief Compliance & Legal Officer at Roxom, joins Delphine Forma to explore what it takes to launch a bitcoin-denominated capital markets infrastructure. They dive into licensing journeys in El Salvador and Seychelles, market abuse frameworks, public-private enforcement partnerships, and the future of crypto compliance in Latin America.

Running a Global, Regulated Crypto Market Maker

43 min

Daniel Lo, MD, GM & CLRO at Acheron Trading, shares insights on navigating MiCA licensing, Singapore vs. EU regulatory culture, and building compliance frameworks for market makers operating across CEXs and DeFi.

Key Insights from the Digital Asset Compliance Talent and Salary Guide

32 min

Digital Asset compliance hiring has entered a new phase, more competitive, and more global, than traditional finance ever anticipated. In this special episode of the Compliance Champions podcast series, Delphine is joined by Jena Dropela, VP of People & Culture at Solidus Labs, who breaks down digital asset compliance talent & salary trends: tight talent pools, compensation premiums, training vs experience, and retention strategies, based on insights from the new Digital Asset Compliance Talent and Salary Guide. Download your copy of the guide here.

Balancing Innovation and Regulation: AFSA’s Approach to Crypto Markets

44 min

Zhaslan Tuyenbayev, Senior Associate at the Astana Financial Services Authority, joins Delphine Forma to discuss AIFC’s digital asset regulatory framework, including licensing, stablecoins, derivatives, AML/Travel Rule, DeFi oversight, and AFSA’s fintech sandbox.

Operationalizing Regulation Across Borders and Asset Classes

42 min

Alex Tsepaev, Chief Strategy Officer at B2Prime, shares how the firm is scaling global crypto and TradFi operations under a unified compliance model. Topics include licensing in six countries, embedding DORA controls, B2C onboarding, AI automation, and launching crypto spot and perpetual products in the Bahamas.

Behind the Bid-Ask: Institutional Crypto, Compliance & Capital

38 min

David Rogers, APAC CEO at B2C2, discusses liquidity provisioning, token market making, and navigating fragmented crypto regulation across Asia. He shares how B2C2 manages credit risk, surveillance controls, and global licensing, and how the firm is building institutional-grade infrastructure in the OTC crypto markets.

Inside a CASP Compliance Journey

55 min

Coinmotion’s CCO Jani Ultamo discusses MiCA licensing, DORA requirements, Travel Rule challenges, and market abuse obligations. Jani shares practical tips for compliance officers, insights from Finland’s fast-track licensing process, and why regulatory clarity is everything for the future of crypto in Europe.

Why Crypto Still Needs Prime Brokers

51 min

Sean Lawrence, Head of Europe at LTP unpacks how institutional crypto firms are navigating MiCA, choosing traditional finance licenses over VASP registration, and building trust through market integrity.

When Code Meets Cover: Reinventing Insurance On-Chain

52 min

Ania Szpak explores how Nexus Mutual delivers protocol protection without being a licensed insurer, leveraging discretionary mutual law and on-chain governance. She discusses claims assessment, MiCA, DAO compliance, and what’s next in crypto-native coverage.

From Innovation to Integrity: How Switzerland Supervises Crypto

55 min

Tobias Eberle and Felicitas Sicardi of VQF unpack Switzerland’s unique SRO-based approach to crypto regulation. They dive into AML compliance, Travel Rule enforcement, audit requirements, and Switzerland’s proposed shift toward full FINMA licensing for certain crypto firms.

Inside Hong Kong’s Gold-Standard Crypto Regulation

27 min

Jack Keung, Head of Compliance at HKDAX explores Hong Kong’s rigorous crypto licensing framework, market abuse rules, Travel Rule implementation, and stablecoin oversight, plus tips for navigating the regulatory fast lane.

Compliance Champions: Compliance Without Borders: Managing Crypto Regulation Worldwide

42 min

Matrixport’s Christopher Liu unpacks how a billion-dollar digital asset platform navigates compliance across Singapore, Hong Kong, Switzerland, and beyond. From regulatory expectations to operational safeguards, Travel Rule pain points, and what it really means to build a risk-based compliance program, this is essential listening for compliance leads, founders, and regulators alike.

Compliance Champions: The Trust Layer: Compliance in Digital Asset Custody

39 min

Hex Trust’s Annette Lu breaks down Singapore’s digital asset licensing regime, custody safeguards, Travel Rule enforcement, and how to scale compliance across APAC. From MAS expectations to the operational grind behind licensing, this episode is packed with practical insights for compliance leads, founders, and regulators alike.

Compliance Champions: Scam Warfare in Taiwan: Prosecuting the Digital Underworld

52 min

Prosecutor Harris Chen of Taiwan’s Chiayi District reveals how cybercrime and crypto scams, especially pig butchering and human trafficking rings, are pushing the boundaries of enforcement. He shares why traditional legal systems struggle with blockchain evidence, how AI is helping scammers more than prosecutors, and why Taiwan’s geopolitical status complicates global cooperation.

Compliance Champions: Inside the UK’s Digital Future

39 min

Lord Chris Holmes of the UK House of Lords explains how the UK can unlock digital innovation through “right‑sized regulation.” From the future of tokenization and stablecoins to AI policy, financial inclusion, and global interoperability, this episode offers a rare parliamentary perspective on building a digital economy that empowers people, businesses, and society.

See all 149 episodes

–

0 ratings from members

5
4
3
2
1

Rate this podcast

Log in to rate and review the shows you listen to.

No reviews yet — be the first member to rate "Solidus Labs".

This podcast, its content and its artwork are not owned by, affiliated with, or endorsed by Castquire.

Keep listening

Discover more podcasts like this.

Browse podcasts See the charts

Up next

  1. Nothing queued. Use + Queue on any episode to line it up.

0:00 0:00

Cookies

We set only what the site needs to sign you in and remember your theme. No advertising, no analytics. Read more.