Company: OWLS
Filing Date: 2025-09-03
Form Type: F-1
Source: 0001193125-25-195057
Chunk: 64

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-03
Form: F-1
Chunk 64
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 offer and sale of certain dollar-backed stablecoins, in the manner and under the circumstances described therein, would not involve an offer and sale of “securities” within the meaning of U.S. securities laws, subject to facts and circumstances analysis. The GENIUS Act and, if passed, the CLARITY Act, also proscribe a regulatory framework that would further reduce uncertainty of the legal status and treatment of “payment stablecoins” or other digital assets in general and clarify in certain instances that such digital assets would not be treated or regulated as “securities.” However, the regulatory framework for stablecoins remain in flux and subject to further promulgation of specific rules and regulatory interpretations in the United States, as well as more generally across the various regimes in which we operate. There could be no assurance that the regulatory regime for stablecoins or digital assets in general would evolve in any direction that is necessarily favorable to our business operations, or that our 43

efforts to comply with the applicable regulatory regimes would not adversely affect our business or financial performance. Neither could there be assurance that the regulators, in the United
States or any other jurisdictions, would not initiate enforcement actions against any particular stablecoin or digital assets which our products and services support or which we purchase, hold or transact in as part of our business operations. Our
stablecoin solutions services do not currently involve, and we do not intend to expand our services in the future to involve, Tether, BUSD, UST or PayPal USD.

Stablecoins are a relatively new phenomenon, and it is impossible to know all of the risks accompanying stablecoins and their operations. Many
factors, including significant volatility in price and regulatory limitations, might materially hinder the usage of stablecoins, and our products and services focused on stablecoins could be materially and adversely affected.

Other technical issues have also been discovered periodically with digital assets, including stablecoins, which have disabled functionalities,
exposed certain users’ personal information, resulted in the theft of users’ assets and other negative consequences, and required a resolution with the attention and efforts of their global miner, user and development communities. If any
such risks materialize, and in particular if they are not resolved, the development and growth of digital assets may be significantly affected and, as a result, our business, operating results and financial condition could be adversely affected.
These risks are fundamentally beyond our control and could materially and adversely affect stablecoins and our business, financial condition and operating results.

Due to unfamiliarity and some negative publicity