Reason for this visit

Canada is one of the most “crypto-friendly” countries in the world. Local cryptocurrency exchanges have been classified as institutions that provide financial services since the country passed a bill to completely legalize cryptocurrency in June 2020. As a result, Canada becomes the market that global crypto exchanges are competing for. To help investors get a more comprehensive understanding of the local exchanges, WikiBit survey team decided to go to Canada for on-site visits to these companies.

On-site visit

In this issue, the investigation team went to Toronto, Canada to visit the cryptocurrency exchange coinsquare (licensee: COINSQUARE LTD) as planned according to its regulatory address that 590 KING ST.W, TORONTO, ON, CANADA, M5V1M3.

The survey personnel arrived at the destination on June 24 in Toronto, the largest city of Canada and the capital of Ontario. And the nearby streets didn‘t have much traffic. The target building is situated at 590 KING ST.W in downtown Toronto, with convenient transportation, just a few minutes’ walking distance from the St. Andrew Station.

After entering the building, the investigators found that there were no security guards there. From the company directory, it could be seen that there was no any information about company “coinsquare”.

Only company “Lee Valley” could be seen on the 1st floor. And the survey team didnt spot any related information about company “coinsquare” following a visit to the building.

After an on-site investigation, it is confirmed that coinsquare doesnt have a presence there.

Conclusion

The survey personnel went to Toronto, Canada to visit the cryptocurrency exchange coinsquare, but didn‘t find the company’s office at its regulatory address. It suggests that the company doesnt have a physical business office there or just registered at the location. Therefore, investors are advised to choose this exchange cautiously.

Disclaimer

The content is for informational purpose only, and shall not be taken as a final order for making a choice.