In a bid to settle a disagreement with the present management and fellow stakeholders regarding the governance of BitFlyer Holdings Inc., Yuzo Kano, the co-founder, is striving to regain his position as the CEO of Japan’s biggest cryptocurrency exchange. According to a report, Kano anticipates reinstating his role as CEO during an upcoming shareholder meeting next month.
Following his resignation in 2019 due to internal conflicts, Kano is determined to breathe new life into the cryptocurrency firm and steer it toward an IPO (Initial Public Offering). With a clear vision, the former CEO is also committed to re-establishing Japan’s leadership in the cryptocurrency industry.
“I will make it capable of fighting on the international stage,” Kano said in a recent interview.
In his recent interview, the former CEO of BitFlyer revealed his plans to revamp the company’s offerings if he is reinstated. Among his proposed initiatives are the open-sourcing of BitFlyer’s “miyabi” blockchain to the public, the introduction of stablecoins to the trading platform, and the pursuit of an IPO. Kano, who still holds a 40% stake in the company, expressed his disappointment with BitFlyer’s lack of innovation during his absence and is eager to reignite the company’s entrepreneurial spirit.
Moreover, he noted that several chief executive officers have come and gone since his departure, underscoring the dynamic nature of the corporate landscape.
It’s my responsibility to point out issues and demand improvement […] I reprimand people when they cause problems, make false reports or fail to do whatever they are supposed to do.
BitFlyer, a prominent cryptocurrency exchange in Japan, boasts a user base of over 2.5 million individuals. The company faced administrative challenges due in part to the Financial Services Agency’s 2018 regulatory standards, which required more rigorous anti-money laundering measures. Despite these hurdles, the former CEO believes that the “very strict regulations” enforced in Japan could serve as a blueprint for other nations seeking to enhance their regulatory frameworks.
