Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 65

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 3
Chunk 65
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 by external law firms and Coincheck’s new full-

time audit and supervisory board members.

Under Monex’s new leadership, Coincheck also improved its risk management policies pursuant to which a

risk committee monitors on a monthly basis the state of development and operation of Coincheck’s risk management

system as a whole, including by monitoring and confirming cryptocurrency positions on a daily basis, monitoring

credit risk by verifying positions held against a limit amount determined with respect to each cover counterparty,

and monitoring liquidity risk by confirming the supply of each crypto asset and the corresponding number of

transactions on a daily basis.

Coincheck also joined with the 16 domestic cryptocurrency exchanges in operation in Japan as of

March 2018 to form the JVCEA in order to strengthen rules in the industry to reduce the risk of future similar

incidents. In October 2018, the JFSA granted the cryptocurrency industry in Japan self-regulatory status, giving the

JVCEA the ability to establish standardized operating procedures, including the ability to set guidelines on the

crypto assets that may be traded by exchange operators. The JFSA also authorized the JVCEA to monitor and

penalize Japanese cryptocurrency exchanges for noncompliance.

In January 2019, after these significant improvements to Coincheck’s risk management and governance

systems, Coincheck received a license as a crypto asset exchange service provider from the JFSA and registered

with the Kanto Financial Bureau under the Payment Services Act, and also became a member of the Japan

Cryptoasset Business Association. Since the 2018 acquisition by Monex, Coincheck has actively worked, and

intends to continue to actively work, with all applicable regulators to improve the regulatory standards of crypto

assets in Japan, and Coincheck’s Chairman, Representative Director & Executive Director, Satoshi Hasuo, currently

serves as a director of the JVCEA. See “ - Regulatory Environment.”

Over the past six years, under the leadership of Monex and the Coincheck management team, we have

grown to become a leading crypto asset exchange provider to the Japan retail market, known for our trusted brand,

strong compliance culture, and our robust, easy-to-use and attractive products and services.

50

Business Combination and Current Corporate Organizational Structure

We decided in 2022 to takes steps toward becoming a publicly traded company with shares listed on either

Nasdaq or NYSE. On December 10, 2024, the Business Combination Agreement was closed and the Business

Combination consum