Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 24

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 3
Chunk 24
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 report assessing developments in the NFT

market and evaluate the necessity and feasibility of regulating NFTs and related services providers through

additional legislation. The European Commission’s report pursuant to Article 142 of MiCA was first due on

December 31, 2024, which has been extended to December 31, 2025. In the United States, included within the

framework for responsible development of crypto assets announced in September 2022 was an instruction for the

U. S. Department of the Treasury to complete an illicit finance risk assessment on NFTs, which was published on

May 29, 2024. As part of its finding, the report recommends the continued monitoring and evaluation of the need for

additional guidance or rules to address financial risks associated with NFTs. Accordingly, significant additional new

regulation is likely to be enacted in the future, and that may include in Japan. Due to the novel and complex issues

involved, it is difficult to predict how any such developments will affect the development and operation of our

Coincheck NFT Marketplace, and it is possible that the regulations adopted in individual jurisdictions may conflict

with one another.

As is the case with other crypto assets, NFTs are also subject to theft through hacking, social engineering,

phishing, and fraudulently inducing individuals into delivering NFTs or providing access to NFTs to an

unauthorized third party. Any safeguards we have implemented or may implement in the future to protect against

these cybersecurity threats may be insufficient to prevent a malicious actor, and any such activity on our Coincheck

NFT Marketplace could result in reputational harm, or expenses or losses associated with mitigation efforts against

these incidents or third-party claims.

The loss or destruction of private keys required to access any crypto assets held in custody for our customers may

be irreversible. If we are unable to access private keys or if we experience a hack or other data loss relating to our

ability to access any crypto assets, it could cause regulatory scrutiny, reputational harm and other losses.

Crypto assets are generally controllable only by the possessor of the unique private key relating to the

digital wallet in which the crypto assets are held. While blockchain protocols typically require public addresses to be

published when used in a transaction, private keys must be safeguarded and kept private in order to prevent a third

party from accessing the crypto assets held in such a wallet. We hold the private key that is necessary for the transfer

of customers’ crypto assets