Reason for this visit

Canada is one of the most “crypto-friendly” countries in the world. Local cryptocurrency exchanges have been classified as institutions that provide financial services since the country passed a bill to completely legalize cryptocurrency in June 2020. As a result, Canada becomes the market that global crypto exchanges are competing for. To help investors get a more comprehensive understanding of the local exchanges, WikiBit survey team decided to go to Canada for on-site visits to them.

On-site visit

In this issue, the investigation team went to Toronto, Canada to visit the cryptocurrency exchange coinberry (licensee: COINBERRY LIMITED) as planned according to its regulatory address that #100-320 DAVENPORT RD TORONTO, ON, CANADA M5R1K6.

The survey personnel arrived at the destination on May 13 in Toronto, the largest city of Canada and the capital of Ontario. A modern building is situated in the community of Annex at 320 Davenport Road in Toronto, Ontario, with nearby communities such as Yonge St. Clair, Bay Street Corridor, and Church Yonge Corridor. The location is surrounded by a dusty environment boasting huge crowds of people and busy traffic.

After arriving at the building, the inspection team found that there were no security guards as well as lift. On the glass front door of the building, “Designer Walk” could be saw clearly. Then the team reached room 100 by taking the stairs, and spotted company “Pehr Design”, instead of “coinberry”. At meantime, the office was under a renovation.

After an on-site investigation, it is confirmed that coinberry doesnt have a presence here.

Conclusion

The survey personnel went to Toronto, Canada to visit the cryptocurrency exchange coinberry, but didn‘t find the company’s office at its regulatory address, which suggests that it doesnt have a physical business office there or just registered at the location. Therefore, investors are advised to choose this exchange cautiously.

Disclaimer

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