Yuzo Kano, the co-founder of Japan’s leading cryptocurrency platform BitFlyer, is reportedly seeking to return as the company’s CEO after stepping down in 2019. Kano’s primary goal is to end the tension between the current management team and shareholders, and to steer the entity towards an initial public offering (IPO). He plans to present a proposal next month with certain goals that the company should follow.
In 2018, BitFlyer had to overcome serious regulatory issues with the domestic watchdogs, and Kano stepped down as CEO shortly after. Since then, numerous individuals have sought to lead the firm, but with no significant success. Kano has been critical of those who have failed to do what they are supposed to do. Despite the turmoil, BitFlyer has amassed over 2.5 million users worldwide, with offices in San Francisco, Luxembourg, and Tokyo.
The Japanese government has recently changed its strict stance on the cryptocurrency industry under the rule of Prime Minister Fumio Kishida. As a result, Binance has sought a permit to re-enter the local ecosystem, while Kraken and Coinbase have announced plans to shut operations in Japan. Kano is determined to make BitFlyer capable of competing on the international stage, and his return as CEO could be a major step in achieving this goal.