Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 39

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 3
Chunk 39
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 transaction in April 2024. Even though Bitcoin’s miner fees have since decreased, if the block rewards for

miners on any blockchain network are not sufficiently high to incentivize miners, miners may demand higher

transaction fees, or collude to reject low transaction fees and force users to pay higher fees. Although we generally

attempt to pass miner fees relating to customer withdrawals through to our customers, we have in the past incurred,

and expect to incur from time to time, losses associated with the payment of miner fees in excess of what we charge

our customers, resulting in adverse impact on our operating results.

The nature of our business requires the application of complex financial accounting and tax rules relating to

crypto assets transactions, crypto assets and crypto-related revenue, and there is limited guidance from

accounting standard setting bodies and taxing authorities. If financial accounting standards undergo significant

changes or taxing authorities announce new tax rules, our operating results could be adversely affected.

The accounting rules and regulations that we must comply with are complex and subject to interpretation

by the IFRS Foundation and various bodies formed to promulgate and interpret appropriate accounting principles. A

change in these principles or interpretations could have a significant effect on our reported financial results and may

even affect the reporting of transactions completed before the announcement or effectiveness of a change. In

addition, there has been limited precedent for the financial accounting of crypto assets and related valuation and

revenue recognition standards. As such, there remains significant uncertainty on how companies should account for

crypto assets transactions, crypto assets and related revenue. There has been limited guidance from taxing authorities

on treatment of crypto assets and revenue therefrom. Japanese tax audits or changes in the tax treatment of our

business could result in the imposition of significant additional taxes. Uncertainties in or changes to regulatory or

financial accounting standards could result in the need to change our accounting methods and restate our financial

statements and impair our ability to provide timely and accurate financial information, which could adversely affect

our financial statements, result in a loss of investor confidence, and more generally impact our business, operating

results, and financial condition.

We obtain and process a large amount of sensitive customer data. Any real or perceived improper use of,

disclosure of, or access to such data could harm our reputation, result in liability claims and regulatory

enforcement actions and otherwise have an adverse effect on our business.

We obtain and process large amounts of sensitive data, including personal data related to our customers and

their transactions, such as their