Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 105

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 3
Chunk 105
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 in connection with the transfer of crypto assets) (the “ Transfer

Information”) when sending crypto assets to another VASP according to Article 10-5 of the Revised APTCP.

The prescribed jurisdictions, designated by the JFSA, currently are the United States, Albania, Israel,

Canada, the Cayman Islands, Gibraltar, Singapore, Switzerland, Serbia, the Republic of Korea, Germany, the

Bahamas, the Bermuda Islands, the Philippines, Venezuela, Hong Kong SAR, Malaysia, Mauritius, Liechtenstein,

Luxembourg, the United Arab Emirates, India, Indonesia, the United Kingdom, Estonia, Nigeria, Bahrain and

Portugal.

The list of VASPs in the prescribed jurisdictions (the “ Subject VASPs”) is researched and published by the

JVCEA, and is subject to update approximately once every six months, and we are required to monitor the list and

update its system in accordance with such periodic updates. Additionally, a new jurisdiction may also be added to

the prescribed jurisdictions by the JFSA from time to time.

Travel Rules Solutions

In order to send the Transfer Information to the Subject VASPs, an information transfer system (the

“ Transfer System”) must be utilized. Although various types of Transfer Systems are currently available to the

VASPs in the market, none of them are compatible with other types of Transfer Systems. Accordingly, Transfer

Information can only be exchanged between VASPs using the same Transfer System and, as a result, CAESPs can

only transfer crypto assets to a Subject VASP that has adopted the same Transfer System.

Moreover, notifications of the Transfer Information are only available for transfers of crypto assets that are

supported by the Transfer System. As a result, the crypto assets that can be transferred under the travel rules are

limited to such crypto assets.

We have adopted a system called “ Travel Rule Universal Solution Technology” (“ TRUST”), which has

been adopted by us as well as other CAESPs in Japan. Among the crypto assets handled by us, as of May 13, 2025

TRUST only supported BTC, ETH, LSK, BAT, ENJ, SAND, FNCT, CHZ, LINK, DAI, MKR, AXS, APE, IMX,

WBTC, SHIB, PEPE, MASK, MANA, and GRT.

Impact on Business

As stated above, under the new travel rule, we are currently restricted from sending crypto assets to

CAESPs