Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 116

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 4
Chunk 116
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industry, has seen declines following the significant decline in cryptocurrency prices after their June 2021 peak, and 
the negative publicity, lawsuits and bankruptcies concerning some large industry players beginning at about the time 
of the FTX  scandal and bankruptcy in 2022, we have continued to see growth in our number of verified accounts 
through March 31, 2025. We define verified accounts as accounts that have been opened after the account has been 
approved following completion of all application procedures (including “know your customer” or “KYC”), after 
subtracting therefrom the total number of closed accounts. 
Japan has a well-developed regulatory environment for safe and secure trading.
While the legal status of crypto assets is unclear in many places around the world, Japan is one of the first 
countries to define crypto assets in law and to introduce regulations for crypto asset exchanges. In April 2017, the 
revised Payment Services Act and the revised Act on Prevention of Transfer of Criminal Proceeds, which introduced 
a definition of crypto assets (originally called virtual currency under that law) and a regulatory framework for crypto 
asset exchanges, came into effect, and cryptocurrency exchange businesses became subject to registration by the 

53

JFSA. As a result, anti-money laundering (AML) and counter-terrorist financing (CFT) regulations began to be 
applied to cryptocurrency exchanges. Additionally, in order to protect users and enforce proper and reliable business 
practices, the JFSA’s administrative guidelines have required cryptocurrency exchange companies to establish a 
system for examining how cryptocurrencies are handled and a system for appropriately verifying risks. In 
March 2018, the JVCEA was established and became a certified self-regulatory organization in October of the same 
year. The JVCEA formulates and publishes self-regulatory guidelines and rules in compliance with various JFSA 
guidelines to protect users and strengthen the AML/CFT system. We believe that Japan’s robust regulatory 
environment has been developed ahead of other markets in the world, contributes to greater acceptance of crypto 
assets by Japanese individuals, and places domestic exchanges in an advantageous position.
<{self.tag} alt="{self.alt}" src="{self.src}"><{self.tag} alt="{self.alt}" src="{self.src}">Our Strengths
We have a leading position in the Japanese retail market.
As of March 31, 2025, we have a significant share of the Japanese market, with 18.5% of domestic verified