Company: CNCKW
Filing Date: 2025-01-28
Form Type: F-1
Source: 0001213900-25-007203
Chunk: 174

Company: Coincheck Group N.V.
Filing Date: 2025-01-28
Form: F-1
Chunk 174
---
 no objection prior to the introduction on our platforms of any cryptocurrencies being handled for the first time in Japan. In addition, our internal evaluation process requires any cryptocurrencies to be newly traded on our platforms to meet all of the following criteria prior to and after the introduction on our platforms, regardless of whether such cryptocurrencies have been handled by another Japanese exchange: •the asset is a “crypto asset” under the definition set out in Section 14 Article 2 of the Payment Services Act; •the currency is appropriate for us to introduce from user protection and public interest perspectives; •the stability of the chain is guaranteed; •equal purchasing opportunity is guaranteed; •the program is disclosed to the public and no material vulnerability has been identified; •the marketing materials do not include contents that are misleading; •the asset does not breach public policy (for example, whether the asset is similar to gambling); •the asset is compatible with cold wallets; •the transactions are traceable and do not remain confidential or anonymous from an AML and CFT perspective; •the asset meets the “sufficient liquidity” requirement for the relevant crypto asset in our exchange service or is with two or more cover counterparties in principle; •the asset is neither being used nor likely to be used in a manner that violates laws and regulations or public order and morals; •the asset is neither being used nor likely to be used in crimes, including money laundering and financing of terrorism; •the asset has no significant concerns or obstacles as to its transferability and traceability to record and update possessions; •the asset can properly be audited by an auditor;

119 •the asset can be safely stored and transferred in the system or otherwise without difficulties; •the asset can properly and reliably fulfill obligations under the PSA; and •the transfer record of the asset can be traced without any difficulties. We further evaluate the following risks to confirm that the asset has no exposure to any of them: •market risk: the risk of significant price decline due to oversupply and other factors; •credit risk: the risk that operation of the project may fail and the asset may substantively extinguish; •liquidity risk: the risk that holders are unable to transfer or redeem the asset due to low liquidity; and •other risks that are general to crypto assets or unique to certain assets, including hacking risk, risk of losing the asset due to falsification of records and reputation risk to us. In addition, we also evaluate such cryptocurrencies from a commercial point of view by comprehensively considering a variety of factors including the industry