Company: CNCKW
Filing Date: 2025-04-10
Form Type: 424B3
Source: 0001213900-25-030417
Chunk: 140

Company: Coincheck Group N.V.
Filing Date: 2025-04-10
Form: 424B3
Chunk 140
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 non -currentassets as of December31, 2024, consisted of a Build and Build, a crypto currency. Under IFRS, there are no accounting standards related to the transactions of crypto assets. In order to determine the accounting treatment, we follow the requirements of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors and refer to the conceptual framework for financial reporting, and standards related to similar matters. In this context, we consider various factors to evaluate whether we have control for accounting purposes over crypto assets, and account for these transactions accordingly. See Note 8 to our financial statements for the nine months ended December 31, 2024 included elsewhere in this prospectus for more information on our accounting treatment for our crypto assets held. Under the Payment Services Act, we are defined as a CAESP and are subject to certain regulations of the management of the crypto assets of our customers. For example, we must segregate all such fiat currency and cryptocurrencies of our customers from our own property, keep any cryptocurrencies and our own assets in separate wallets and keep at least 95% of our customers’ cryptocurrencies in wallets that are not connected to the internet, or “cold wallets.” For more information on the regulations applicable to our business and our holdings of crypto assets, see “Business — Regulation.”

92 Accordingly, the cryptocurrencies deposited by customers are mainly held in such electronic wallets administered by us. Although we have the private key that is necessary to dispose of cryptocurrencies deposited by customers, we are obliged to purchase and sell the cryptocurrencies at the instructions of the customers based on the contractual arrangement with the customers. In addition, we clearly distinguish between the wallets for our holdings of cryptocurrencies on our own account and the wallets for those deposited by customers and manage them separately. As of December 31, 2024, we recorded ¥1,033,997 million of safeguard liabilities on our condensed consolidated interim statements of financial position with respect to the obligation to safeguard our customers’ crypto assets, which included ¥637,802 million of Bitcoin, ¥134,863 million of Ethereum, and ¥261,332 million of other crypto assets. Crypto assets that are deposited by customers and considered not to be controlled by us are not recognized as crypto assets in our condensed consolidated interim statements of financial position. However, we recognize our obligation to safeguard customers’ crypto assets as safeguard liabilities in the condensed consolidated interim statements of financial position and record corresponding safeguard assets in the condensed consolidated interim statements of financial position. Because we safeguard customers’ cryptocurrencies in accordance with the requirements of the Payment Services