Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 109

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 3
Chunk 109
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 using Crypto Asset-Related

Information.

To stay in compliance with the JVCEA SRO Rules, we have established internal rules with regard to

information management as well as crypto asset trading restrictions, including Rules Concerning the Examination of

Transactions to Prevent Unfair Trading and a Procedures Manual for Trade Screening, and monitor trading activities

by our employees.

Non-Fungible Tokens

Under the current financial regulations in Japan, NFTs are not generally regulated and are not deemed

crypto assets under the PSA. Therefore, NFTs are not subject to the custody rules applicable to crypto assets. In

addition, NFTs would not constitute securities or ERTRISs, under the FIEA if their holders do not share in profits or

receive dividends in respect of the NFTs. Our process for approving the listing of NFTs on Coincheck NFT

Marketplace includes confirming that the NFTs are neither crypto assets under the PSA nor ERTRISs under the

FIEA, but our determination is not binding on regulatory authorities or courts in Japan (see also “ Risk

Factors - Risks Relating to Our Business, the Crypto Industry, and Crypto Assets - We also operate Coincheck

NFT Marketplace, which may expose us to legal, regulatory, and other risks that could adversely affect our business,

operating results, and financial condition.”).

C. Organizational Structure

We are a holding company domiciled in the Netherlands, and our only material assets are the capital stock

of our wholly owned subsidiaries, mainly Coincheck. Our operating subsidiaries are listed under Exhibit 8.1 filed

herewith.

We lease office space for our headquarters in Amsterdam, the Netherlands, and we also lease office space

in Tokyo, Japan, for our operating subsidiaries. We believe that our facilities are adequate and suitable to meet our

needs for our business as currently conducted.

Item 4. A Unresolved Staff Comments

None.

Item 5. Operating and Financial Review and Prospects

Unless the context otherwise requires, all references in th is section to the “ Company,” “we,” “us,” or “our”

refer to Coinch eck, Inc. prior to the closing of the Business Combination and Coincheck Group N. V. and

subsidiaries after closing.

The following discussion of our financial condition and results of operations should be read in conjunction

with the financial statements and related notes included elsewhere in this report. Our financial statements are

prepared in accordance with IFRS