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 CMC MARKETS as planned according to its regulatory address that 100 Adelaide St. West, Suite 2915, Toronto, ON M5H 1S3.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the cryptocurrency exchange CMC MARKETS at 100 Adelaide Street West in Toronto.

The target building is located in Torontos central business district, surrounded by bustling streets and numerous office towers, characteristic of a thriving commercial area. The building features a modern glass curtain wall design, stands approximately 30 stories tall, and is equipped with a revolving door and security personnel at the entrance. The overall environment is well-maintained and professionally managed.

To conduct a thorough investigation, the investigators proceeded into the building lobby. Upon entry, they observed a dedicated reception desk staffed by personnel, with access to the elevator area restricted to registered visitors only. When inquired, the front desk staff confirmed that visitors were permitted in public areas but required identification of the specific party being visited. The inspection team then reviewed the lobby directory, which listed “Canadian Medical Association” as the occupant of Suite 2915—a direct discrepancy with the publicly registered information for “CMC MARKETS.”

To verify these details, the team took the elevator to the 29th floor. Corridor signage clearly identified Suite 2915 as the office space of the Canadian Medical Association, with no visible logos or branding related to CMC MARKETS on the doorplate or glass walls. Although entry to the office interior was restricted, visible through the glass were a tidy workspace, wall-mounted institutional identifiers, and medical industry promotional materials—all inconsistent with the expected traces of a financial trading firm.

The field inspectors attempted to communicate with staff on the floor, but were informed that the entire level was exclusively occupied by the Canadian Medical Association, with no knowledge of CMC MARKETS operating at the location.  Although the building permitted visitor access to public areas, entry to company premises was prohibited, and the front desk declined to provide further information. 

Through the on-site investigation, it is confirmed that CMC MARKETS does not maintain a physical presence at the location.

Conclusion

The survey team went to Canada to visit cryptocurrency exchange CMC MARKETS but did not find the company at its regulatory address.  This suggests the company may have only registered the address without maintaining an actual physical office at the place.  Accordingly, investors should be meticulous in choosing the exchange.

Disclaimer

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