Company: CNCKW
Filing Date: 2025-03-27
Form Type: F-1/A
Source: 0001013762-25-003470
Chunk: 338

Company: Coincheck Group N.V.
Filing Date: 2025-03-27
Form: F-1/A
Chunk 338
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 were discussed by the IFRIC in the June 2019 agenda decisions. The agenda decision did not specifically address the activity of crypto assets by entity. Thus, in order to determine the accounting treatment, the Group follows the requirements of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors and refers to the “Conceptual Framework for Financial Reporting” and standards related to similar matters. In this context, the Group considers various factors to evaluate whether the Group has control for accounting purposes over crypto assets and accounts for these transactions accordingly. The Group’s holdings of crypto assets that are controlled by the Group for accounting purposes are presented as part of crypto assets held in the condensed consolidated interim statements of financial position. On the other hand, the Group’s holdings of crypto assets deposited by customers and considered not to be controlled by the Group are not recognized as crypto assets held in the condensed consolidated interim statements of financial position. However, the Group recognizes the obligation to safeguard crypto assets deposited by customers as safeguard liabilities in the condensed consolidated interim statements of financial position and records corresponding safeguard assets as crypto assets held in the condensed consolidated interim statements of financial position (see Note 9 “Safeguard assets/safeguard liabilities”). The amounts of crypto assets deposited by customers not recognized as crypto assets held in the condensed consolidated interim statements of financial position were 649,211 million yen and 1,033,997 million yen as of March 31, 2024, and December 31, 2024, respectively. These amounts are calculated based on the fair value at the end of the reporting period. Crypto assets deposited by customers include cryptocurrencies and NFTs. Crypto assets deposited by customers are mainly held in electronic wallets administered by the Group in the same way as the Group’s holdings of crypto assets in its own accounts. Although the Group has the private keys that are necessary to dispose of crypto assets deposited by customers, the Group is obliged to purchase and sell crypto assets under the instructions of the customers based on the contractual arrangement with the customers, and the use of the private keys without permission from customers is strictly prohibited. Additionally, in terms of cryptocurrencies, following the requirements of the “Payment Services Act,” “Cabinet Office Order on Virtual Currency Exchange Service Providers” and other laws and regulations, the Group segregates cryptocurrencies deposited by customers from those of the Group in its own accounts and manages each of the customers’ balances. In addition, the Group clearly distinguishes between the wallets for the Group’s holdings of cryptocurrencies in its own accounts and the wallets for those deposited by