George Miller
Monex Group has declared that its subsidiary, Coincheck Group, a cryptocurrency exchange based in Japan, is now officially listed on Nasdaq in the United States. Starting December 11th, Eastern Time, it will trade under the ticker symbol “CNCK.”
Coincheck Group N.V.のNASDAQ上場のお知らせhttps://t.co/2kEZo6JCBq@NasdaqExchange
— Coincheck(コインチェック) (@coincheckjp) December 10, 2024
Coincheck (CNCK) Has Officially Launched
According to an official press release, this listing is anticipated to enhance the company’s reputation and position Coincheck as an influential entity in the cryptocurrency arena.
The translated press release mentions, “As a result of this listing, the entity’s designation has shifted from a private limited liability company (B.V.) to a public limited liability company (N.V.) in accordance with Dutch legislation.”
Post-listing, Monex Group is set to hold around 80% of Coincheck Group’s shares, which currently have a market worth of approximately US$1.6 billion (or nearly 240 billion yen).
Coincheck submitted a Form F-4 registration statement on November 7, receiving SEC approval on November 12. Under Gary Gensler’s leadership, the SEC has faced scrutiny for its rigorous regulatory approach concerning cryptocurrencies, with several Wells notices issued, which critics argue stifle innovation in the sector.
The importance of this listing lies in its potential to promote global market integration and motivate both Japanese and international crypto exchanges to seek listings on worldwide platforms. This aligns with the vision of President-elect Donald Trump, who has advocated for fostering competitive markets. The optimism for Paul Atkins as a potential SEC Chair nomination could further nurture hopes of a more crypto-supportive regulatory landscape in the U.S., enhancing its attractiveness for crypto enterprises.
At the same time, Dubai and Singapore remain favored locations for the crypto sector. Nevertheless, the evolving U.S. approach may heighten global competition, prompting other nations to attract the industry. The UK has also signaled intentions to introduce a detailed regulatory framework for crypto businesses, acknowledging that the U.S. is rapidly evolving into a key destination for firms chasing an environment ideal for growth and innovation.