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 COINUTCANADA in Toronto, with specific address at 1 YONGE ST SUITE 1801 Toronto CANADA.

According to the above address, the survey team came to the destination, a medium office building at 1 YONGE ST. There is no sign on the outside of the building or in the lobby.

Since the security of the building was not very strict, the team took the elevator to the 18th floor. According to the public information of the COINUTCANADA, the office of the exchange should be in room 1801.

The team found room 1801. There was no logo or name outside the office. In addition, no one was working at the front desk of the office. The team called the telephone number according to the notice left at the front desk, but were informed that the cryptocurrency exchange COINUTCANADA was not located here.

Conclusion

The survey team went to Toronto, Canada, to visit the cryptocurrency exchange COINUTCANADA. As result, they found no business premise of the exchange, 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.