Coincheck Approved as First Japanese Crypto Exchange on Nasdaq

Coincheck has been approved by the US Securities and Exchange Commission (SEC) to be the first Japanese crypto exchange to be listed on the Nasdaq.

The Tokyo-headquartered exchange is expected to debut on the US bourse as early as 10 December after the regulator issued its approval on 13 November.

The listing will occur through a SPAC merger with Thunder Bridge Capital Partners (TBCP), allowing Coincheck to remain a consolidated subsidiary of its current parent firm, Monex Group.

Coincheck filed a Form F-4 registration on 7 November, which then became effective on 12 November. TBCP since been given permission to hold a shareholder vote on 5 December, a required step for finalizing the merger.

If approved, Coincheck will officially start trading on the Nasdaq under the ticker CNCK. The move could inspire other Japanese crypto exchanges to list in the US, which is expected to be more crypto-friendly under Donald Trump's incoming administration.

As one of the incoming President's key pledges, SEC Chair Gary Gensler is expected to be abdicated once Trump is sworn in. Dan Gallagher, Paul Atkins, Mark Uyeda, Hester Peirce, and Chris Giancarlo have all been touted as potential Gensler replacements.

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Last week, Japan's SBI Digital Markets (SBIDM) launched new pilot projects to advance tokenized securities with the help of initiatives by the Monetary Authority of Singapore’s (MAS) Project Guardian.

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