Company: CNCKW
Filing Date: 2025-08-29
Form Type: POS AM
Source: 0001213900-25-082038
Chunk: 124

Company: Coincheck Group N.V.
Filing Date: 2025-08-29
Form: POS AM
Chunk 124
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 and encouraged by the country’s thoughtful crypto regulation model, which is designed around protecting the consumer. While our trading volume, together with the trading volume of others in the 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 JFSA. As a result, anti -moneylaundering (AML) and counter -terroristfinancing (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 -regulatoryorganization in October of the same year. The JVCEA formulates and publishes self -regulatoryguidelines 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. 81 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 accounts, based on data provided by the JVCEA: Source: