Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 98

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 3
Chunk 98
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 the digital assets to be discontinued (“ Discontinued Digital Assets”);

(ii) The date of discontinuation;

(iii) The reason for discontinuation;

(iv) The existence or non-existence of 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.

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 (although it plans to apply for registration as a Type I FIBO later

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this year in order to be able to expand the types of products it offers). An outline of the regulations for CAESPs is as

follows.

Regulations on Crypto Asset Exchange Service

Under the PSA, a CAESP is required to be registered with the JFSA or is subject to criminal proceedings

and punishment.

The term “crypto asset” is defined in the PSA as a property value that satisfies the following conditions: it

can be used to pay unspecified persons for goods, services, or leases; it can be exchanged with unspecified persons

for fiat currency; it is electronically recorded and transferable; and it is not a fiat currency or a currency-

denominated asset. Essentially, it is a digital asset that functions as a means of payment and exchange, but is not

considered legal tender or directly tied to it.

Under Japanese law, a “crypto asset” is not a “security” as such term is defined in the FIEA.

The term CAES is defined in the PSA to mean any of the following acts carried out as a business:

(a) sale or purchase of crypto assets, or the exchange of a crypto asset for another crypto asset;

(b) intermediating, brokering or acting as an agent in respect of the activities listed in item (a);

(c) management of customers’ money in connection with the activities listed in items (a) and (b); or

(d) management of customers’ crypto assets for the benefit of another person