TagYuzo Kano

Japan's BitFlyer Raids Banking Talent in Bid For Global Crypto Exchange

Yuzo Kano, chief executive of major Japanese exchange bitFlyer is trying to build a global cryptocurrency powerhouse, one former financier at a time. The Goldman Sachs Group alumnus who made bitFlyer Japan’s largest bitcoin exchange has doubled his staff in the past six months in a bid for global expansion. His team, which is expected to reach 300 this year, includes a fixed income chief at...

Japan Ends 8% Consumption Tax On Bitcoin Today

Yen Japan Bitcoin cryptocurrency

Bitcoin users in Japan no longer have to pay the 8% consumption tax on bitcoin transactions as of today, July 1.  Under the “Cabinet Order for Partial Revision of the Order for Enforcement of the Consumption Tax Act,” digital currencies are exempt from consumption tax. The revised law abolished consumption tax on digital currencies, but other taxes such as personal income tax, capital gains tax...

Bitcoin Trading Soars in Japan amidst Volatility and Stable Yen Exchange Rates

Bitcoin

Bitcoin trading is booming in Japan as yen exchange rates have stabilized, bitcoin has been volatile and the Japanese government has passed virtual currency legislation, according to the Nikkei Asian Review. A total of 430 billion yen in bitcoins were traded in the first half of the year, 50 times more than in the same period in the previous year. Yuzo Kano, CEO of bitFlyer, Japan’s largest...

Japanese Bitcoin Exchange bitFlyer Acquires $236,000 to Expand Internationally

bitFlyer, a Japanese Bitcoin exchange, announced today that they obtained $236,000 through fundraising from the Bitcoin Opportunity Corp, an investment vehicle. That is the first investment in a company based in Japan for the Group. This investment will be the first convertible bond issue by bitFlyer. According to Investopedia, a convertible bond "can be converted into a predetermined amount of...