Reason for this visit

Canada is one of the most "crypto-friendly" countries in the world. In June 2020, the country passed a bill to completely legalize cryptocurrency, and cryptocurrency exchanges are classified as institutions that provide financial services. As a result, Canada has become the market that global crypto exchanges are competing for. To help investors or practitioners get a more comprehensive understanding of the local exchanges, the survey team decided to go to the Republic of Estonia for on-site visits.

On-site visit

This time the survey team visited the cryptocurrency exchange MXCCAD in Toronto, with specific address at 500-7030 Woodbine Ave Markham,Toronto, Canada.

According to the above address, the survey team came to the destination of this survey, a commercial building on Woodbine Avenue in Toronto, Canada. The street where the building is located is not very busy. The building is quite high and eye-striking, which is easy to find.

The team entered the building and came to the directory of lobby, from which they found there were several companies operated in Office 500. However, they found no name of the cryptocurrency exchange MXCCAD. Theoretically, the exchange's office is located in Office 500.  

To further confirm whether cryptocurrency exchange MXCCAD is working here, the team went to Office 500 and found that there was no logo or name of any company outside the office. Therefore, the surveyor concluded that this should be a shared office with several companies working here. Unfortunately, the surveyors failed to find any evidence of the cryptocurrency exchange MXCCAD.

Conclusion

The survey team went to Toronto, Canada,to visit the cryptocurrency exchange MXCCAD. Finally, they found no business premise of the exchange but a shared office, which means the given business address might be fake. Or, the exchange might be a registered company at this address. Please be prudent if trading with this exchange. 

Disclaimer

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