Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 18

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 3
Chunk 18
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 address issues relating to crypto

assets. These legal and regulatory regimes are evolving rapidly and may be modified, interpreted, and applied in an

inconsistent manner from one jurisdiction to another. We currently only offer crypto asset exchange services to

customers in Japan and take steps to ensure that customers outside of Japan cannot circumvent our account opening

procedures. We also have procedures to restrict access from IP addresses in jurisdictions outside of Japan, including

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the United States. However, these procedures may not always be effective. For instance, the use of a virtual private

network may allow users from IP addresses outside of Japan to misrepresent their true locations and gain access to

our platform. If our procedures are ineffective or if we are otherwise determined to have violated applicable laws

and regulations in other jurisdictions, including the United States, the European Union or elsewhere, we could be

subject to administrative sanctions, including fines, or legal claims based on the laws of such other jurisdictions. For

example, if individuals located in the United States were able to evade our user restrictions and gain access to our

services, we could be deemed to be operating in the United States as an unregistered national securities exchange, an

unregistered securities broker-dealer (or unlicensed or unregistered money transmitter or money services business)

and/or an unregistered clearing agency with respect to our crypto asset exchange services and could therefore be

subject to administrative sanctions or legal claims in the United States.

Also, while we currently only operate in Japan, certain of our transactions or dealings nevertheless may

become subject, as a jurisdictional matter, to economic sanctions laws and regulations imposed by governmental

authorities outside of Japan, such as those administered and enforced by the U. S. Department of the Treasury’s

Office of Foreign Assets Control (“ OFAC”). We have taken steps designed to comply with sanctions imposed by

Japan, the United States, and other relevant regulators, and to prevent our users from using our cryptocurrency

exchange to conduct transactions or dealings with countries, regions, and persons sanctioned by Japan, the

United States, and other governments, but we cannot guarantee that these safeguards will be effective. Any failure to

comply with these sanctions may expose us to reputational harm as well as significant penalties, including criminal

fines, imprisonment, civil fines, disgorgement of profits, as well as other remedial measures. Investigations of

alleged violations can be expensive and disruptive, and any such violation (or allegation of a violation) could

advers