Former CEO of BitFlyer Proposes For IPO Once Reinstated

• BitFlyer, located in Tokyo, has accumulated over 2.5 million users throughout the globe.
• Fumio Kishida has softened Japan’s severe attitude toward the crypto sector.

According to reports, Yuzo Kano, co-founder of Japan’s prominent cryptocurrency platform BitFlyer, plans to return to the company’s helm as CEO. Finally, he hopes to lead the company to an IPO and end the conflict between the existing management and the shareholders.

Bloomberg reports that the 47-year-old Japanese entrepreneur has shown interest in returning to his role as CEO of BitFlyer in order to further cement the company’s position as a worldwide industry leader.

IPO Listing and Resolving Dispute

Kano, who served as CEO until 2019, has promised to provide a plan outlining specific objectives for the firm next month. Among them are putting BitFlyer’s stock on a public exchange and putting an end to the dispute between the company’s management and its shareholders.

In 2018, the crypto exchange in Japan had to overcome significant regulatory hurdles with local watchdogs. There was a time when the Financial Services Agency (FSA) mandated that BitFlyer and several of its competitors implement more stringent anti-money laundering processes. Shortly after, Kano resigned from his position as CEO.

Since then, several people have tried and failed to take the company by the reins. A few of them left because Kano attacked them for being BitFlyer’s top shareholder. Notwithstanding the chaos, BitFlyer, located in Tokyo, has accumulated over 2.5 million users throughout the globe. Offices may also be found in San Francisco and Luxembourg.

As of late, Prime Minister Fumio Kishida has softened Japan’s severe attitude toward the crypto sector. He declared himself a supporter of blockchain technology and Web3 and pledged to implement lenient regulations.

Recommended For You:

Israel’s TASE Proposes Allowing Crypto Trading To Non-banking Members