Coincheck, a subsidiary of Monex Group, is about to become the first Japanese crypto exchange listed on Nasdaq, driven by a merger with TBCP and SEC approval.
SEC Application Approval
The U.S. Securities and Exchange Commission (SEC) approved Coincheck's application to list on Nasdaq on November 13, following the submission of a Form F-4 registration statement on November 7, which became effective on November 12. This approval allows TBCP to hold a shareholder vote on December 5, paving the way for the listing to occur as early as December 10 under the ticker CNCK.
Nasdaq Listing Implications
The planned Nasdaq listing represents a significant milestone for Japan and the U.S., enhancing global market integration and potentially inspiring other Japanese crypto exchanges to follow suit. It could also attract more international crypto firms to U.S. markets, reinforcing the country's pro-crypto regulatory stance.
SEC Influence Over Crypto
The SEC has a pivotal role in shaping the U.S. crypto industry through its rigorous oversight of digital assets and exchanges. Consensys CEO Joe Lubin criticized the SEC's restrictions on innovation, calling for supportive regulations for the crypto industry and Web3 in a letter to the next U.S. president.
Coincheck's upcoming Nasdaq debut may herald further advancements for crypto projects on the international stage, promoting pro-crypto regulation in the U.S.
