Company: CNCKW
Filing Date: 2025-01-28
Form Type: F-1
Source: 0001213900-25-007203
Chunk: 165

Company: Coincheck Group N.V.
Filing Date: 2025-01-28
Form: F-1
Chunk 165
---
 2024 (versus 17% of the United States population as of January 2024), according to data from the JVCEA and Morning Consult. We believe that this shows the potential for further development of the Japanese crypto asset market. We believe that the Japanese public is highly engaged and willing to participate in the crypto asset revolution and encouraged by the country’s thoughtful crypto regulation model, which is designed around protecting the consumer. In addition, there is a large opportunity to cater to institutional demand in a market with significant regulatory, language, and cultural barriers to entry. Declines in crypto asset prices seen in 2022, negative publicity following the bankruptcy of FTX in November 2022, recent lawsuits filed against large crypto exchanges 110 in June 2023, recent settlements by crypto exchanges and convictions of prominent figures in the crypto industry in November 2023 and ongoing lawsuits by both the SEC and crypto industry leaders in early 2024, have impacted our monthly users, which is on a declining trend since its peak in the first quarter of the year ended Ma rch 31, 2022. However, we have continued to see modest growth in our number of verified accounts through September 30, 2024. (see “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Recent Developments and Outlook”). Selected Crypto Adoption Rankings Source:The 2022 Geography of Cryptocurrency Report: Analysis of Geographic Trends in Cryptocurrency Adoption and Usage by Chainalysis, September 2022. Represents the index of crypto adoption in 146 countries dependent on on -chaincryptocurrency value received at centralized exchanges/from DeFi protocols, on -chainretail value received at centralized exchanges/from DeFi protocols and peer -to -peerexchange trade volume, ranging from 0 (lowest rank) t o 1(highest rank). A well-developed , domestic regulatory environment for safe and secure trading. While the legal status of crypto assets is unclear in many countries around the world, Japan was one of the first countries to define crypto assets in law and to introduce regulations for crypto asset exchanges, which serve as hubs for the trading and exchange of crypto assets in Japan. In April 2017, the revised Payment Services Act and the revised Act on Prevention of Transfer of Criminal Proceeds, which introduced a definition of virtual currency and a regulatory framework for virtual currency exchanges, came into effect, and cryptocurrency exchange businesses became subject to registration by the JFSA. The term “virtual currency” was later changed to “crypto assets” in