Company: CNCKW
Filing Date: 2025-03-27
Form Type: F-1/A
Source: 0001013762-25-003470
Chunk: 60

Company: Coincheck Group N.V.
Filing Date: 2025-03-27
Form: F-1/A
Chunk 60
---
 Company’s activities would be expanded outside of Japan and crypto -assetservices (other than issuing asset -referencetokens or e -moneytokens) would be provided within in the European Union, as of that date a license as crypto -assetservice provider (CASP) from the competent supervisory authority would be required. Moreover, the offer to the public in the European Union of crypto -assetshas been restricted by MiCAR and includes detailed requirements on the information that needs to be notified and made available in the form of a white paper, depending on the type of crypto -assets. When either targeting customers in the European Union and/or providing crypto -assetservices in the European Union, these MiCAR requirements need to be complied with. Finally, on November 24, 2023, the European Banking Authority launched a public consultation on new guidelines to prevent the abuse of funds and certain crypto asset transfers for money laundering and terrorist financing purposes, further highlighting the continually evolving regulatory landscape in which we operate. 31 To the extent that we expand internationally in the future, we would become subject to a heightened risk of enforcement action, litigation, regulatory, and legal scrutiny which could lead to sanctions, cease and desist orders, or other penalties and censures which could significantly and adversely affect our continued operations and financial condition. We may suffer losses due to staking, delegating, and other related services we provide to our customers. Certain supported crypto assets enable holders to earn rewards by participating in decentralized governance, bookkeeping and transaction confirmation activities on their underlying blockchain networks, such as through staking activities, including staking through validation, delegating, and baking. We currently provide and expect to continue to provide such services for Ethereum (ETH) to our customers in order to enable them to earn rewards based on the amount that we hold on their behalf. For instance, as a service to customers, we operate staking nodes on certain blockchain networks utilizing customers’ crypto assets and pass through the rewards received to those customers, less a service fee. In other cases, with our assessment about risk of the providers, we may delegate our customers’ assets to third -partyservice providers that are unaffiliated with us. Some networks may further require customer assets to be transferred into smart contracts on the underlying blockchain networks not under our or anyone’s control. If our validator, any third -partyservice providers, or smart contracts fail to behave as expected, suffer cybersecurity attacks, experience security issues, or encounter other problems, our customers’ assets may be irre