• Yuzo Kano, the co-founder of Japan’s leading cryptocurrency platform BitFlyer, is looking to reinstate himself as CEO in order to guide the company towards an IPO.
• Kano stepped down from his role as CEO in 2019 due to regulatory issues with Japan’s Financial Services Agency (FSA).
• He plans to present a proposal next month that will end the feud between the management and shareholders and lead the firm towards an initial public offering (IPO).
Former Bitflyer CEO Plans Return
Yuzo Kano – Co-Founder of Japan’s leading cryptocurrency platform BitFlyer – is reportedly seeking to return as the firm’s CEO after stepping down in 2019. The 47-year-old Japanese entrepreneur wants to terminate tension between current management team and shareholders and steer the entity towards an initial public offering (IPO).
Goals for Proposal
Kano vowed to present a proposal next month that includes certain goals for the company such as ending feuds between management division and shareholders and listing BitFlyer’s shares for public trading.
Regulatory Issues in 2018
In 2018, Japan’s crypto exchange had to overcome serious regulatory issues with domestic watchdogs after being ordered by Financial Services Agency (FSA) to impose stricter anti-money laundering procedures. This resulted in Kano stepping down as a CEO shortly after.
Attempted Leadership Since Then
Since then, numerous individuals have sought to lead the firm but with no significant success. Some resigned after Kano criticized them for their lack of progress.
Future Plans for Company Expansion
Kano aims make BitFlyer „capable of fighting on an international stage“ through his return as CEO which he believes will help guide it through global expansion and eventually achieving an IPO.