Coincheck, a Japanese cryptocurrency exchange, will list on Nasdaq on December 10 after receiving SEC approval.
On December 10, Coincheck – a Japanese cryptocurrency exchange owned by Monex Group – will officially list on the Nasdaq Global Market after being approved by the US Securities and Exchange Commission (SEC). This is an important milestone, making Coincheck the first cryptocurrency exchange from Japan to be listed on a US stock exchange.
The deal, which will be executed through a merger with Thunder Bridge Capital Partners (TBCP), a special purpose acquisition company (SPAC), opens up the possibility for other Japanese exchanges to access international markets. After listing, Coincheck will remain a wholly owned subsidiary of Monex Group, and trade on Nasdaq under the symbol CNCK if the merger is approved by TBCP at its December 5 shareholders meeting.
Source: Monex Group
This listing is of strategic significance, not only strengthening the position of the Japanese cryptocurrency market but also promoting financial integration between international markets. For the US market, Coincheck's presence on Nasdaq is expected to attract more international companies, while reflecting the potential of the cryptocurrency industry in the context of the Trump administration's possible adoption of a more open policy.
Despite the SEC's approval of Coincheck's listing, the commission's relationship with the cryptocurrency industry remains complicated. The SEC maintains a tight regulatory stance on digital assets, despite recognizing the sector's importance. Joe Lubin, CEO of Consensys, publicly criticized the SEC at Devcon 2024, arguing that the commission's strict policies are stifling innovation in the industry.
Consensys also sent an open letter to the President-elect, calling for a pro-crypto and Web3 policy, expressing hope for a more positive direction from the SEC in the future.
