Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 17

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 3
Chunk 17
---
 our executive team), barring of certain

employees from participating in our business in whole or in part, revocation of existing licenses, limitations on

existing and new products and services, reputational harm, negative impact to our existing relationships with

regulators, exposure to criminal liability, or other regulatory consequences. Further, new laws, regulations, or

interpretations may result in additional litigation, regulatory investigations, and enforcement or other actions,

including preventing or delaying us from offering certain products or services offered by our competitors or which

could impact how we offer such products and services. Adverse changes to, or our failure to comply with, any laws

and regulations have had in the past, and could again have in the future, an adverse effect on our reputation and

brand and our business, operating results, and financial condition. For further information on the regulations we are

subject to, see the section entitled “ Business Overview - Regulatory Environment.”

An important focus of regulatory oversight is to assess our financial soundness. If we fail to maintain

sufficient liquidity and capital resources, our business and trading operations could be adversely affected and we

could also be subject to regulatory consequences, including requirements to inject significant additional capital in

our regulated entities. It is possible that new or enhanced capital or liquidity requirements could be introduced in the

future.

In addition, Coincheck’s Chairman, Representative Director & Executive Director, Satoshi Hasuo (who is

also Coincheck Parent’s Chief Operating Officer), also serves as a director of the JVCEA, which could potentially

result in a conflict of interest. We are not aware of any such conflicts of interest and believe that the possibility of

any information being shared with Mr. Hasuo that could cause a conflict of interest is limited, but there can be no

assurances. See “ Business Overview - Regulatory Environment - Self-Regulatory Organization and Self-

Regulatory Rules on Crypto Asset Exchange Service Providers.”

We could be subject to administrative sanctions, including fines, or legal claims if we are found to have offered

services in violation of the laws of jurisdictions other than Japan or to have violated international sanctions

regimes.

Legal and regulatory regimes in a range of areas, including crypto asset custody, exchange, and transfer,

money and crypto asset transmission, foreign currency exchange, privacy, data governance, data protection,

cybersecurity, fraud detection, tax, anti-bribery, anti-money laundering, and counter-terrorist financing, vary widely

between Japan and other jurisdictions and are still developing and changing to