In a significant development for the cryptocurrency market, Japanese exchange Coincheck has gained approval from the U.S. Securities and Exchange Commission (SEC) to list on Nasdaq, becoming the first Japanese crypto exchange to accomplish this.
Coincheck's Nasdaq Listing
Coincheck, a cryptocurrency exchange owned by Japan's Monex Group, has secured approval to list on Nasdaq. Trading under the ticker CNCK is expected to commence on December 11th, following a merger with special purpose acquisition company (SPAC) Thunder Bridge Capital Partners IV (TBCP).
Regulatory Approval Progress
The Nasdaq listing application was approved by the SEC on November 13th, enabling TBCP to hold a shareholder vote on December 5th to finalize the merger. Coincheck filed various forms with the SEC, with the approval of Form F-4 being a crucial step toward this listing.
Impact on Crypto Market
This upcoming Nasdaq listing marks a significant step in enhancing market integration between the U.S. and Japan in the cryptocurrency sector. The move may set a precedent for Japanese and other crypto companies looking to enter U.S. markets. It is anticipated that the Trump administration's pro-crypto stance might attract more overseas crypto firms to the U.S. market.
Coincheck's establishment as the first Japanese crypto exchange on Nasdaq highlights the ongoing transformations in U.S. regulatory systems and their openness to international business in the cryptocurrency sector.
