Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 42

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 3
Chunk 42
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, and may impose in the

future, special fees on the purchase of crypto assets, including on our cryptocurrency exchanges, which could

significantly increase our costs. We could attempt to pass these increases along to our customers, but this strategy

might result in the loss of customers to our competitors who may not also pass along the increases, thereby reducing

our total revenue and earnings.

We may also be directly or indirectly liable to the bank or other payment processor for rule violations, or

they may refuse to do business, or continue to do business, with us if they believe we have committed rule

violations. Banks and other payment processors set and interpret their network operating rules, including the level of

sufficient compliance by the crypto firm with the “travel rule” that has been enacted to support anti-money

laundering laws and regulations. See subsections about anti-money laundering and the “travel rule” in “ Information

About the Company - Regulatory Environment.” The vendor we use, considered an industry standard and used by

many crypto firms, to provide the technology services that enable tracking of transactions to comply with the travel

rule does not support, or fully support, certain cryptocurrencies we offer. If a bank or other payment processor is not

satisfied with our level of compliance, as we have been advised from time to time they may not be, we may be

required to change to another bank or payment processor, if possible, or alter our product offering or business

practices, which may be costly or otherwise adversely affect our business. They could also adopt new operating

rules or standards or interpret or reinterpret existing rules that we might find difficult or even impossible to follow,

or costly to implement.

Our success depends in part upon continued distribution through app stores and effective operation with mobile

operating systems, networks, technologies, products, hardware and standards that we do not control.

A substantial majority of our customers’ activity on our cryptocurrency exchanges occurs on mobile

devices. There is no guarantee that popular mobile devices will remain compatible with the Coincheck app. We are

dependent on the interoperability of our app with popular mobile operating systems, networks, technologies,

products, hardware and standards that we do not control, such as the Android and iOS operating systems. Any

changes, bugs or technical issues in such systems, or changes in our or our customers’ relationships with mobile

operating system providers, device manufacturers or mobile carriers, or in their terms of service or policies, that

degrade the functionality of our app,