Company: CNCKW
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086398
Chunk: 150

Company: Coincheck Group N.V.
Filing Date: 2025-09-10
Form: 424B3
Chunk 150
---
 in Japan, including bitFlyer, GMO Coin, Bitbank, Mercoin and SBI, as well as providers affiliated with foreign exchanges, including Bit Trade (previously Huobi Japan). In addition, Binance acquired 98 Sakura Exchange Bitcoin in November 2022 to enter the Japanese market and launched its initial services on its platform in August 2023, while Coinbase K.K. and Kraken shut down their services in Japan. We compete on factors including: •the quality of our user interface for both smartphone and PC users; •the security of our platforms and reliability of execution; •our brand strength and reputation; and •innovation to provide additional products and services of interest to our customers. Intellectual Property We strive to acquire intellectual property rights related to the services we operate, and we recognize that the protection of our technology and intellectual property rights is an important aspect of our business. In order to prevent the infringement of not only our own intellectual property rights but also those of third parties, we conduct preliminary investigations throughout our company and with legal counsel. We rely on a combination of trademarks, trade secrets, copyrights, confidentiality procedures, contractual commitments and other legal rights to establish and protect our intellectual property. We generally enter into agreements with our employees and consultants that contain confidentiality provisions to control access to our proprietary information. Regulatory Environment The laws and regulations applicable to our current business and operations are concentrated in Japan. Based on the manner in which we operate our business, as described here and elsewhere in this prospectus, including our account opening procedures, we do not believe that we are operating as an unregistered exchange, broker -dealeror clearing agency in the United States. Overview of Regulatory Framework in Japan Japan has emerged as one of the largest cryptocurrency markets globally and was the first country to establish a regulatory framework for cryptocurrencies. In addition to enabling the registration of cryptocurrency exchange service providers wishing to provide cryptocurrency exchange services to residents in Japan, this framework seeks to protect customers and to prevent cryptocurrency -relatedmoney laundering and terrorism financing. However, Japanese law does not have a unified legal framework for digital assets. The legal status of any given digital asset under Japanese law is determined in accordance with its function and use. In other words, whether a given digital asset constitutes a “security token” (i.e., ERTRs or ERTRISs under the FIEA) or a “crypto asset” will be objectively determined based on its functions and uses and the applicable legal analysis thereof. More specifically, according to the PSA and public comments issued by the JF