Company: CNCKW
Filing Date: 2025-01-28
Form Type: F-1
Source: 0001213900-25-007203
Chunk: 194

Company: Coincheck Group N.V.
Filing Date: 2025-01-28
Form: F-1
Chunk 194
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 the JVCEA’s procedures regarding discontinuation described below would apply. According to Article 10, Paragraph 1 of the JVCEA “Regulations Concerning Handling of Crypto Assets,” when a CAESP discontinues the handling of digital assets it is handling, the CAESP must notify its users at least 30 days prior to the date of discontinuation through its website or other means of communication that are easily accessible to users, together with a public notice of discontinuation based on Article 63 -20, Paragraph 3 of the PSA. In addition, according to Article 10, Paragraph 2 of the same regulation, when making such public notice, the CAESP must provide the following information to users: (i)The name of the digital assets to be discontinued (“Discontinued Digital Assets”); (ii)The date of discontinuation; (iii)The reason for discontinuation; (iv)The existence or non -existenceof other CAESPs handling the Discontinued Digital Assets as of the date of notification and the name of such CAESPs; (v)The policy on the return of the Discontinued Digital Assets; and (vi)Information necessary to return the Discontinued Digital Assets to users. 131 Therefore, if a CAESP is no longer able to continue handling a digital asset handled by the CAESP due to a change in its legal status, the handling of such digital asset must be discontinued in compliance with the procedures stipulated in the above JVCEA self -regulatoryrules. Additionally, tokens (such as NFTs) that have no economic function as a means of payment because of their unique characteristics, are not currently regulated under Japanese financial regulations. Coincheck currently only handles cryptocurrencies, which fall under the category of crypto assets, and NFTs, which do not fall under the category of either crypto assets or ERTRISs. Therefore, Coincheck is only registered as a CAESP and not as a Type I FIBO. An outline of the regulations for CAESPs is as follows. Regulations on Crypto Asset Exchange Service Under the PSA, those who provide CAES are required to be registered with the JFSA. A person who conducts CAES without registration will be subject to criminal proceedings and punishment. The term “crypto asset” is defined in the PSA as: •proprietary value that may be used to pay an unspecified person the price of any goods, etc. purchased or borrowed or any services provided and that may be sold to or purchased from an unspecified person (limited