Reason for this visit

Canada is one of the most “crypto-friendly” countries in the world, with the government actively promoting the development of the digital economy, during which cryptocurrencies, as digital assets, play a significant role. Furthermore, Canada is home to multiple well-known cryptocurrency companies. In recent years, the Canadian government has invested substantial resources and money into research and applications of cryptocurrencies and blockchain technology, including decentralized identity authentication, smart contracts, and other areas, indicating that it will continue to play a crucial role in the era of digital economy in the future. As a result, Canada becomes one of the competitive markets for global crypto exchanges. In an attempt to help investors gain a more comprehensive understanding of current exchanges in Canada, WikiBit survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Canada to visit cryptocurrency exchange FastBTC as planned according to its regulatory address that 16 -140 Bradwick Dr. Concord, ON, Canada L4K1K8.

The investigators came to 140 Bradwick Drive in Concord of Ontario, Canada for a visit to the exchanges office on December 14, 2023, and located an old building featuring a red brick façade near the less bustling street with direct access to highway No.7 and No.407.

There was an outdoor directory, which displayed that unit 16-17 are occupied by “Ocean Sales Group Ltd.” without any information regarding FastBTC.

Upon arrival at unit 16 for further investigation, the survey personnel discovered that the room was under renovation, where there wasnt any company name nor logo of FastBTC as well as any staff.

Through the on-site investigation, it is confirmed that the company doesnt have a presence at the location.

Conclusion

The survey team went to Canada to visit cryptocurrency exchange FastBTC, but didnt find the company at its regulatory address. This signifies that the company might just register at the place without a physical business office. Therefore, investors should be meticulous in choosing the exchange.

Disclaimer

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