Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 239

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 10
Chunk 239
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 an Ordinary Share acquired upon the 
exercise of a Warrant and a QEF election previously made with respect to Ordinary Shares will apply to Ordinary 
Shares newly acquired upon exercise of a Warrant. Notwithstanding such QEF election, the adverse tax 
consequences relating to PFIC shares, adjusted to take into account the current income inclusions resulting from the 
QEF election, will continue to apply with respect to such newly acquired Ordinary Shares (which under proposed 
regulations will be deemed to have a holding period for purposes of the PFIC rules that includes the period the 
U.S. Holder held Warrants), unless the U.S. Holder makes a purging election under the PFIC rules (such as the 
Deemed Sale Election discussed above). U.S. Holders should consult with their own tax advisors regarding the 
application of the PFIC rules to Warrants.
You will generally be required to file IRS Form 8621 if you hold Ordinary Shares in any year in which we are 
classified as a PFIC. You are urged to consult your tax advisors concerning the U.S. federal income tax 
consequences of holding Ordinary Shares if we are considered a PFIC in any taxable year.
Taxation of Gains or Losses
For U.S. federal income tax purposes, you will recognize taxable gain or loss on any sale, exchange or other 
taxable disposition of Ordinary Shares or Warrants in an amount equal to the difference between the amount realized 
for the Ordinary Shares or Warrants, as applicable, and your tax basis in your Ordinary Shares or Warrants, as 
applicable, in each case determined in U.S. dollars. Subject to the discussion under “— Passive Foreign Investment 
Company” above, such gain or loss will generally be capital gain or loss and will generally be long-term capital gain 
or loss if you have held the Ordinary Shares or Warrants for more than one year. Long-term capital gains of non-
corporate U.S. Holders (including individuals) are eligible for reduced rates of taxation. The deductibility of capital 

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losses is subject to limitations. Any gain or loss recognized by you will generally be treated as U.S. source gain or 
loss.
Acquisition of Ordinary Shares pursuant to Warrants
Subject to the PFIC rules discussed above, a U.S. Holder will generally not recognize gain or loss upon the 
exercise of a Warrant for cash. An Ordinary Share acquired pursuant to the exercise of a Warrant for cash will 
generally have a