2024

United

Coincheck, a cryptocurrency exchange headquartered in Tokyo and a subsidiary of Monex Group, is expected to become the first to debut on the Nasdaq Global Market as early as Dec. 10.
On Nov. 13, the United States Securities and Exchange Commission approved the exchange’s application to list on the Nasdaq.
The move, set to occur through a merger with Thunder Bridge Capital Partners (TBCP), marks the first time a Japanese crypto exchange will be listed on a US stock exchange.
The merger with TBCP, a special acquisition purpose company (SPAC), will enable Coincheck to remain a consolidated subsidiary of Monex Group after the listing. It could also encourage other Japanese exchanges to pursue similar moves.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/japans-regulatory-stance-stalls-crypto-etfs-global-shifts" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Japan slow to approve crypto ETFs, maintains strict taxes, regulations</a>
<h2 id="sec-application-approval">SEC application approval</h2>
The SEC’s approval follows the Japanese crypto exchange’s <a data-ct-non-breakable="null" href="https://www.monexgroup.jp/en/news_release/irnews/auto_20241112520488/pdfFile.pdf" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://www.monexgroup.jp/en/news_release/irnews/auto_20241112520488/pdfFile.pdf">filing</a> of a Form F-4 registration statement on Nov. 7, which became effective on Nov. 12.
With the SEC green light, TBCP can now proceed to hold a shareholder vote on Dec. 5 to approve and finalize the business combination, a necessary step for the listing to proceed.
If the shareholders vote in favor, the merger with TBCP will close, and Coincheck is set to be officially listed on the Nasdaq as soon as Dec. 10, trading under the ticket CNCK.
<figure><img alt="Cryptocurrencies, Japan, SEC, United States, Cryptocurrency Exchange, Donald Trump, ウォールストリート" src="https://s3.cointelegraph.com/uploads/2024-11/01932555-6f31-771c-90f6-fa5784a7e0a9" title="">
 <figcaption style="text-align: center;">
 Coincheck declaration post-submission of Form F-4 revealing its tentative Nasdaq listing for December. Source: Monex Group
 </figcaption>
</figure>
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/japan-political-party-leader-pledges-to-lower-crypto-taxes-to-20-percent" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Japan political party leader promises crypto tax cuts if elected</a>
<h2 id="nasdaq-listing-implications">Nasdaq listing implications</h2>
The planned Nasdaq listing would be a significant development for Japan and the US. If the merger is finalized, it will deepen global market integration, potentially inspiring other Japanese crypto exchanges to pursue listings in international markets.
The listing could attract more international crypto firms to American markets for the US, reinforcing the country’s expected <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-presidency-sec-reform-pro-crypto-regulations" rel="noopener noreferrer nofollow" target="null" text="null" title="null">pro-crypto regulatory stance</a> under President-elect Donald Trump’s incoming administration.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/japan-banks-back-project-pax-global-settlements" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Japan’s major banks back new stablecoin project for global trade</a>
<h2 id="sec-influence-over-crypto">SEC influence over crypto&nbsp;</h2>
The SEC has shaped crypto in the US through its rigorous oversight of digital assets, exchanges and firms, including issuing multiple Wells notices.
Consensys CEO Joe Lubin, in an interview with Cointelegraph at Devcon 2024 in Thailand,&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ethereum-benefit-most-from-trump-win-says-joe-lubin" rel="noopener noreferrer nofollow" target="null" text="null" title="null">criticized the SEC for restricting innovation</a>&nbsp;in the crypto industry.&nbsp;
Consensys also issued an open letter to the next US president, calling for supportive regulations for crypto and Web3 — a sentiment Lubin echoed at Devcon 2024, where he expressed hope for a smooth transition in SEC leadership.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/tokenization-projects-transforming-farmers-lives-africa/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Real life yield farming: How tokenization is transforming lives in Africa</a>

SEC approves Coincheck as first Japanese crypto exchange on Nasdaq

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