Company: CNCKW
Filing Date: 2025-01-28
Form Type: F-1
Source: 0001213900-25-007203
Chunk: 41

Company: Coincheck Group N.V.
Filing Date: 2025-01-28
Form: F-1
Chunk 41
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, which remains unremediated, and therefore its internal control over financial reporting was not effective as of March 31, 2024. This material weakness resulted in a material misstatement of the Company’s marketplace transaction revenue and costs of sales for the years ended March 31, 2021 and 2022. We will not be able to fully remediate this material weakness until certain steps have been completed and have been operating effectively for a sufficient period of time. The actions that we are taking are subject to ongoing review by our executive management and will be subject to the oversight of the audit and supervisory committee. Although we intend to complete this remediation process as quickly as practicable, we cannot provide any assurances with respect to the timeline for implementing effective remedial measures, and our initiatives may not prove to be successful in remediating the material weaknesses or preventing additional material weaknesses or significant deficiencies in our or the Company’s internal controls over financial reporting in the future. See “— Risks Related to Our Shares — If we fail to maintain effective internal control over financial reporting, the price of our Ordinary 23 Shares may be adversely affected” and “— Risks Related to Our Shares — Our failure to timely and effectively implement controls and procedures required by Section 404(a) of the Sarbanes -OxleyAct could have a material adverse effect on our business, operating results and financial condition.” A particular crypto asset’s status as a “security” in any relevant jurisdiction remains subject to a high degree of uncertainty. All of the crypto assets that we currently offer on our cryptocurrency exchanges have been confirmed by the JVCEA for trading in Japan by companies registered as crypto asset exchange service providers with the JFSA under the Payment Services Act. Although regulators outside of Japan, including those in the United States, have taken the position that certain crypto assets fall within the definition of a “security” under their country’s securities laws, these crypto assets are not currently considered a “security” in Japan. There can be no assurance that the laws and regulations in Japan will not change in the future. Under U.S. federal securities laws, a crypto asset offered to investors is deemed a security if investment is made to a common enterprise with the reasonable expectation of profit derived from the efforts of others. Further, the U.S. SEC has issued various forms of guidance, including reports, orders and statements on the application of securities laws to crypto assets. The classification of a crypto asset as a security under applicable law has wide -rangingimplications for