Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 145

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 4
Chunk 145
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-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.
Under the PSA, CAESPs are required to:
(a)     take the measures necessary to ensure the safe management of available information;