Company: CNCKW
Filing Date: 2025-01-28
Form Type: F-1
Source: 0001213900-25-007203
Chunk: 185

Company: Coincheck Group N.V.
Filing Date: 2025-01-28
Form: F-1
Chunk 185
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 funded by Softbank’s Vision Fund 2, and Meebits, created by Larva Labs, the developer of CryptoPunks, one of the world’s most popular NFT projects. When trading NFTs, a sales commission is charged to the seller upon completion, and a withdrawal fee charged when the NFT is withdrawn by the holder. Sales commissions on Coincheck NFT Marketplace are paid in a cryptocurrency selected by the customer from 28 different types that are available on the platform as of September 30, 2024, unchanged from June30, 2024. NFTs acquired by customers on the platform are not subject to the custody rules applicable to crypto assets under Japan’s Payment Services Act and are held in hot wallets by us on behalf of the customers. The sales screen for a particular NFT displays the price set by the seller in a selected cryptocurrency and the Japanese yen equivalent based on current market levels, as well as Ethereum equivalent if the seller selects a payment in cryptocurrency other than Ethereum. The sales screen also displays the past sales history, and the average price recorded on the Ethereum blockchain. If we observe trades at price levels substantially different from the recent trading history within Coincheck NFT Marketplace, we may suspend execution pending a hearing by our Legal & Compliance Department. Our process for approving NFTs for listing on the Coincheck NFT Marketplace is conducted in three stages, with our NFT Business Development Department performing the initial review and the Legal & Compliance Department performing the secondary review prior to the final review by an internal review committee, based on the following criteria: •whether the NFT is a non -substitutabletoken recorded on the blockchain, or whether the token standard is ERC -721or not, as we currently only support ERC -721; •whether the listing of the NFT on the Coincheck NFT Marketplace is regulated by any applicable laws or regulations, including a determination that the NFT is neither a crypto asset under the PSA or a form of security, or ERTRIS, under the FIEA; •whether the NFT itself breaches any applicable laws and rights (including whether any work is being used without the permission of the copyright holder); •whether the operating company of the NFT has any particular issues (including whether it engages with or is considered to be an anti -socialforce); and •whether the operating company of the NFT is in compliance with applicable laws and regulations in connection with the NFT. 125 Our internal review committee performs the final review by comprehensively evaluating