What happened
TRM Labs said Wednesday it hired Ziqing Ang, most recently at the Monetary Authority of Singapore, as Head of Policy for Asia-Pacific, according to a company statement carried by Crypto. News. Ang joins from MAS, where she worked on digital asset supervision at one of the region's most active crypto regulators.
She will be based in Singapore and coordinate TRM's outreach to central banks, financial intelligence units, and law enforcement agencies across APAC. The appointment gives TRM a former regulator in a region that has driven much of the last two years of licensing activity. San Francisco-based TRM sells blockchain analytics tools to agencies including the U.
S. Department of Justice, the U. K.
's National Crime Agency, and the Singapore Police Force. The firm disclosed alongside the hire that it has tracked more than $103 billion in adjusted crypto crime volume in 2025, a figure that covers illicit inflows to sanctioned entities, ransomware wallets, scam operations, and hacked protocols.
Why it matters
MAS is not a routine regulator to hire out of. It runs one of the strictest digital payment token licensing regimes in the world, and its staff sit inside the working groups that shape the Financial Stability Board's crypto agenda. Pulling a policy hand from that building gives TRM a direct read on how APAC supervisors are thinking about stablecoin issuance, exchange licensing, and cross-border enforcement.
The $103 billion figure is the more interesting number. It's well above the $40. 9 billion Chainalysis flagged for full-year 2024 in its January report, and it lands with four months left in 2026's reporting cycle.
Part of the gap is methodology. TRM's 'adjusted' number pulls in categories Chainalysis excludes, and both firms revise past totals upward as new wallet clusters get attributed. Even accounting for that, the direction is clear.