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What is BITFLYER
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bitFlyer was founded in 2014 by Yuzo Kano, a former derivatives and bonds trader from Goldman Sachs. bitFlyer's cryptocurrency exchange was launched in April 2014, a few months before the once market-dominant bitcoin exchange Mt. Gox went out of business. In 2018 the exchange stopped taking new customers after Japanese regulators accused the exchange of not taking actions to stop money laundering and terrorist financing. Regulators stated that most directors were friends of the CEO Yuzo Kano, a former Goldman Sachs trader.
bitFlyer expanded internationally to the United States in November 2017 and to Europe in January 2018. By 2018, the company was processing 80 percent of bitcoin transactions in Japan and had grown to 150 employees. In 2018, bitFlyer was one of six exchanges ordered to improve their procedures against money laundering, causing bitFlyer to temporarily suspend services while it implemented new systems.