Company: CNCKW
Filing Date: 2025-08-29
Form Type: POS AM
Source: 0001213900-25-082038
Chunk: 152

Company: Coincheck Group N.V.
Filing Date: 2025-08-29
Form: POS AM
Chunk 152
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 FIBO (although it plans to apply for registration as a Type I FIBO later 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 -denominatedasset. 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. 100 Under the PSA, CAESPs are required to: (a)take the measures necessary to ensure the safe management of available information; (b)provide sufficient information to customers; (c)take the measures necessary for the protection of customers and the proper provision of services; (d)segregate the property of customers from their own property and subject the segregation to regular audits by a certified public accountant or audit firm; and (e)establish internal management systems to enable the provision of fair and appropriate responses to customer complaints, and implement measures for the resolution of disputes through alternative dispute resolution proceedings. With respect to item (b), a CAESP is required to explain certain matters (such as the fact that the crypto assets do not constitute Japanese yen or any other foreign currency) to users in advance before conducting crypto asset trading for users. Also, a CAESP is required to provide certain information to users in advance before providing CAES to users. Such information includes: (