Coincheck is poised to make history as the first Japanese crypto exchange to be listed on Nasdaq, following SEC approval.
Coincheck, a Tokyo-based cryptocurrency exchange and subsidiary of Monex Group, is anticipated to make its Nasdaq Global Market debut as early as December 10.
The United States Securities and Exchange Commission gave its approval to the exchange’s application to list on the Nasdaq on November 13.
This will be the first time a Japanese crypto exchange will be listed on a US stock exchange, as a result of a merger with Thunder Bridge Capital Partners (TBCP).
Coincheck will continue to be a consolidated subsidiary of Monex Group following the listing as a result of the merger with TBCP, a special acquisition purpose company (SPAC). It could also serve as an incentive for other Japanese exchanges to implement comparable initiatives.
Following the Japanese crypto exchange’s submission of a Form F-4 registration statement on November 7, which became effective on November 12, the SEC granted its approval.
TBCP is now able to conduct a shareholder vote on Dec. 5 to approve and finalize the business combination, a critical step in the listing process, as the SEC has granted its approval.
If the shareholders vote in favor, the merger with TBCP will be completed, and Coincheck is scheduled to be officially listed on the Nasdaq on December 10th, trading under the ticker CNCK.
The anticipated Nasdaq listing would be a substantial advancement for the United States and Japan. The merger’s completion could potentially motivate other Japanese crypto exchanges to pursue listings in international markets, thereby furthering global market integration.
The listing has the potential to attract a greater number of international crypto firms to American markets, which would serve to reinforce the country’s anticipated pro-crypto regulatory posture under the forthcoming administration of President-elect Donald Trump.
The SEC has significantly influenced the development of crypto in the United States by conducting a thorough examination of digital assets, exchanges, and firms, which has resulted in the issuance of numerous Wells notices.
In an interview with Cointelegraph at Devcon 2024 in Thailand, Consensys CEO Joe Lubin criticized the SEC for limiting innovation in the crypto industry.
Lubin reiterated this sentiment at Devcon 2024, where he expressed optimism for a seamless transition in SEC leadership. Additionally, Consensys published an open letter to the incoming US president, urging for supportive regulations for crypto and Web3.
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