Company: CNCKW
Filing Date: 2025-03-27
Form Type: F-1/A
Source: 0001013762-25-003470
Chunk: 339

Company: Coincheck Group N.V.
Filing Date: 2025-03-27
Form: F-1/A
Chunk 339
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 customers and manages them separately. Regarding NFTs, there are no clear legal regulations in Japan as of December 31, 2024, and all NFTs, including those held by the Group and those deposited by customers, are held in hot wallets. NFTs deposited by customers are recorded on the Group’s database and internal records in the account of the depositing customers. Therefore, the economic benefits and risks related to crypto assets deposited by customers belong, in principle, to the customers, and the Group is not exposed to risks of significant changes in the fair value of these crypto assets. On the other hand, legal rights of crypto assets are not entirely clear, and there is a possibility that crypto assets deposited by customers may be dealt with in the same manner as crypto assets of the Group in its own accounts at the liquidation of the Group, but in terms of cryptocurrencies, Article 63 -19-2of the “Payment Services Act” issued by the Financial Services Agency of Japan allows customers the right to receive repayment of Deposited Crypto Assets and Redemption Guarantee Crypto Assets as defined by the “Payment Services Act” in advance of other creditors in preparation for the bankruptcy risk of the Group. F-77 COINCHECK GROUP N.V. and its subsidiaries.
NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
(UNAUDITED) 8.Crypto assets held (cont.) The accounting policies and balances of the Group’s crypto assets by holding purpose are as follows: (1)Crypto assets held (current assets) (a)Cryptocurrencies for facilitating customer transactions Out of the holdings of cryptocurrencies that are considered to be controlled by the Group for accounting purposes (including those borrowed/deposited based on the loan agreements with customers), cryptocurrencies for facilitating customer transactions are recognized as inventories in the condensed consolidated interim statements of financial position according to provisions of IAS 2 Inventories,as the Group has the ability to direct the use of these cryptocurrencies and the economic benefits resulting from sales attribute to the Group. As of March 31, 2024, and December 31, 2024, the carrying amounts were 44,207 million yen and 55,299 million yen, respectively. These amounts are calculated based on the fair value at the end of the reporting period. See Note 12 “Fair value measurement.” (b)NFTs for sale NFTs for sale are recognized as inventories in the condensed consolidated interim statements of financial position according to provisions of I