Co-Founder Yuzo Kano Comes Back As BitFlyer's CEO

Yuzo Kano Will Reinstate Himself As BitFlyer's CEO

BitFlyer Holdings Inc.’s board is set to re-appoint co-founder Yuzo Kano as CEO of Japan’s biggest cryptocurrency exchange.

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Kano owns 40% of BitFlyer and stepped aside from the top role in 2019 after a regulatory crackdown.

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Kano’s proposal for a change in leadership was approved in a shareholder's meeting on Thursday.

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Kano has been making plans to revamp the company so it can seek a public listing and further expand abroad, he said in an interview.

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He plans to boost BitFlyer’s business by introducing stablecoins, a token-issuance operation and opening up its Miyabi blockchain technology to the public.

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The leadership change comes as the global digital asset industry deals with the fallout from the meltdown of Sam Bankman-Fried’s FTX.

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Japan with an advanced regulatory environment recognizes Bitcoin and other virtual assets as legitimate property under the Payment Services Act (PSA).

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