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 to 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 BtcEX as planned according to its regulatory address that 2164 Montreal Road, Unit 5, Ottawa, ON, Canada K1J1G4.

The investigators came to 2164 Montreal Road in Ottawa, the capital of Ontario, Canada for a visit to the exchanges office on May 11, 2024, and located a building next to the relatively quiet street.

Up arrival at the building for further investigation, the survey personnel spotted a co-working space called “Sterling Spaces” in the building mainly for shopping. And there was a notice at the building entrance stating that the shared office had moved away from here. According to the staff working in the building, BtcEX didnt exist at the address.

Through the on-site investigation, it is confirmed that the company does not have a physical presence at the location.

Conclusion

The survey team went to Canada to visit cryptocurrency exchange BtcEX, but did not find the company at its regulatory address. This signifies that the company might just register with the address without a physical business office at the place. Accordingly, 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.